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Jenny is looking to invest in some five-year bonds that pay semi-annual coupons at a coupon rate of 6.25 percent p.a. and are currently selling

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Jenny is looking to invest in some five-year bonds that pay semi-annual coupons at a coupon rate of 6.25 percent p.a. and are currently selling at $948.67. The face value is $1,000. What is the current market yield-to-maturity on such bonds? (USE EXCEL or FINANCIAL CALCULATOR. Round to the closest answer.) Select one: O a. 7.5% O b. 6.5% O c. 8.5% O d. 9.5%

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