A $150,000, 7.5% bond with semi-annual coupons redeemable at par is bought 14 years before maturity at 93. What was the approximate yield rate, compounded semi-annually?

Select one:

a.

8.36%

b.

9.43%

c.

8.69%

d.

9.03%

e.

7.89%

Clear my choice