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Please answer the following question There is a bond that has a quoted price of 99.531 and a par value of $2,000. The coupon rate

Please answer the following question

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There is a bond that has a quoted price of 99.531 and a par value of $2,000. The coupon rate is 6.69 percent and the bond matures in 19 years. If the bond makes semiannual coupon payments, what is the effective annual interest rate? Multiple Choice 6.16% a 6.85% 6.73% 3.38% 3.37%

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