Eugene purchases a 15 year, 10,000 par value bond with 5% semi-annual coupons for $9,500. He is able to reinvest the coupon payments at an annual nominal interest rate of 7% compounded semi- annually. Calculate the annual nominal yield compounded semi-annually that Eugene earns over the 15 year investment. A 3% B 4% 5% D 6% E 7%