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Jack invested in a government bond that promised an annual yield to maturity of 12.7 percent. The bond pays coupons twice a year. What is

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Jack invested in a government bond that promised an annual yield to maturity of 12.7 percent. The bond pays coupons twice a year. What is the effective annual yield (EAY) on this investment? (answer as a percentage rounded to two decimal places without % sign. eg 2.889% is 2.89)

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