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Find the yield rate (i.e. interest rate compounded semiannually) of a bond with the following info: Term: 15 Years Purchase Price: 987.56 Coupon Rate: Annual

image text in transcribed Find the yield rate (i.e. interest rate compounded semiannually) of a bond with the following info: Term: 15 Years Purchase Price: 987.56 Coupon Rate: Annual rate of 2.5% payable semiannually Coupon Frequency: 6-months Face Value: 1000 Redemption Value: Par or Face Value Give your answer as a percentage rounded to four places (i.e. X.XXXX\%). Do not include the percent sign. Note: Coupons are paid at the end of every six month period

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