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(5 points) A 50-year, 1, 000 par-valued bond with semiannual coupons, with a nominal coupon rate of 2X. Avicenna purchased it for 1,630.31 to yield

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(5 points) A 50-year, 1, 000 par-valued bond with semiannual coupons, with a nominal coupon rate of 2X. Avicenna purchased it for 1,630.31 to yield a nominal annual rate of X compounded semiannually. Determine X. (HINT: Being one of the most influential physicians in the history, Avicenna does not need a financial calculator to be able to calculate this rate. Neither do you.)

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