First, you have to do problem 4-9 using a financial calculator
Effective annual yield to maturity = (1.0426)2 – 1 = 0.0870 = 8.70%. Since the bond is selling at par, the yield to maturity on a semi-annual basis is the same as the semi-annual coupon, 4%. The bond equivalent yield to maturity is 8%. Effective annual yield to maturity = (1.04)2 – 1 = 0.0816 = 8.16% ................
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