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4. (3 points) What is the yield to maturity (YTM) of a zero coupon bond with a face value of $1,000, current price of $780

4. (3 points) What is the yield to maturity (YTM) of a zero coupon bond with a face value of $1,000, current price of $780 and maturity of 8.5 years? Recall that the compounding interval is 6 months and the YTM, like all interest rates, is reported on an annualized basis. (Allow two decimals in the percentage but do not enter the % sign.)

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