TERM: 9 years
FACE VALUE: $10,000
COUPON RATE: 8% payable half-yearly
The holder of this bond is entitled to half-yearly coupon payments plus a repayment of the face value at the maturity date.
Calculate the yield to maturity of this bond as a nominal rate per annum compounded half-yearly. You may give your answer as a percentage per annum to the nearest percent or use linear interpolation or a financial calculator to give a more accurate result.
Yield = _____% pa