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9 You buy a bond with a $1,000 par value today for a price of $885. The bond has 5 years to maturity and makes

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9 You buy a bond with a $1,000 par value today for a price of $885. The bond has 5 years to maturity and makes annual coupon payments of $77 per year. You hold the bond to maturity, but you do not reinvest any of your coupons. What was your effective EAR over the holding period? 8 01:28:46 Multiple Choice 7.75% 11.44% 10.80% 9.37%

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