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An investor is considering whether to purchase a security that makes the makes the following payments on a quarterly - basis: Quarterly Period 1 :

An investor is considering whether to purchase a security that makes the
makes the following payments on a quarterly-basis:
Quarterly Period 1: $2,000
Quarterly Period 2: $2,400
Quarterly Period 3: $3,000
Quarterly Period 4: $3,400
Quarterly Period 5: $3,600
Quarterly Period 6: $4,000
What yield will the investor realize if the security can be purchased for
$16,889.34?
a)7.00%
b)8.00%
c)9.00%
d)10.00%
e)11.00%

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