On January 1, 2005, the US Treasury issued a 2-year coupon bond with a coupon rate of 5% that pays coupons semi-annually (on July 1 and January 1). Suppose you purchased this bond on July 2, 2006. If the price you paid was $100.49 per $100 of face value, the yield to maturity on that date (July 2, 2006), expressed as an APR, was: ______% (round to two decimal places)

Below is the Treasury yield curve (YTMs for Government bonds of different maturities) on two dates, January 1, 2010 and Jan 1, 2012. (Note that yields listed below are stated as APRs.)

Maturity:	1-year	2-year	3-year	5-year
Jan 1 2010	4.00%	4.50%	5.00%	6.00%
Jan 1 2012	3.00%	3.50%	4.00%	5.00%

On January 1, 2010 you purchased a 5-year Treasury bond with a 3% coupon rate that pays coupons semi-annually. If you sold the bond on January 1, 2012 (just after receiving the Jan 1 coupon payment), the IRR on your investment, stated as an Effective Annual Rate, was: ______% (round to two decimal places)