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I dont understand why for NPER= 8*8 shouldnt it be 8 times 2 since it is semiannually? (Yield to maturity) An 8-year bond for Katy

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I dont understand why for NPER= 8*8 shouldnt it be 8 times 2 since it is semiannually?

(Yield to maturity) An 8-year bond for Katy Corporation has a market price of $700 and a par value of $1,000. If the bond has an annual interest rate of 6 percent, but pays interest semiannually, what is the bond's yield to maturity

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