final answer is: j = 0.0426

so the yield rate convertible over the 10 year period is 0.085

4.1.5 Don purchases a 1000 par value 10-year bond with 8% semiannual coupons for 900. He is able to reinvest his coupon payments at a nominal rate of 6% convertible semiannually. Calculate his nomin- al annual yield rate convertible semiannually over the ten-year pe- riod