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John bought a 10 year bond for $925 John bought a 10 -year bond for $925. The bond pays a coupon of 5 percent per

John bought a 10 year bond for $925

John bought a 10 -year bond for $925. The bond pays a coupon of 5 percent per year and payments are made semiannually. What is the Effective Annual Yield (EAY) on this bond? 10.67% 9.66% 6.10% 6.30% 3.10%

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