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A bond has a face amount of 1000 and a coupon rate of 7% per year payable semi-annually every June 30 and December 31. The

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A bond has a face amount of 1000 and a coupon rate of 7% per year payable semi-annually every June 30 and December 31. The amortized value of the bond on June 30, 2018 (before payment of the coupon) is 939.33 and on December 31, 2018 (before payment of coupon) the amortized value is 943.78. Calculate the equivalent annual effective yield rate for the bond

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