Effective Annual Yield You have calculated the YTM on a bond that pays interest semiannually to be 8%. The EAY (Effective Annual Yield) is %. Margin of error for correct responses: +/-.02%. Rounding and Formatting instructions: Do not enter a % sign in your response. Do not round any intermediate work, but round your *final* response to 2 decimal places (Example: if your answer is 12.34567%, you should enter 12.35.)