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Please do not copy other answers A 30 -year 1000 par value bond with pays coupons of size 25.22 every 6 -months and redeems for

Please do not copy other answers

image text in transcribedimage text in transcribed A 30 -year 1000 par value bond with pays coupons of size 25.22 every 6 -months and redeems for par. The bond is purchased for a price that results in a nominal annual yield rate of 11.6% compounded semiannually. Suppose that the bond is called (i.e. redeemed) prior to the actual maturity date but immediately after a coupon payment is made. This early redemption results in an actual nominal yield rate convertible semiannually of 12.4%. Calculate the number of years that the bond was held. Give your answer rounded to the nearest whole number (i.e. X)

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