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Points: 0 of 4 ( Related to Checkpoint 9 . 2 ) ( Yield to maturity ) The market price is $ 9 2 5

Points: 0 of 4
(Related to Checkpoint 9.2)(Yield to maturity) The market price is $925 for a 20-year bond ( $1,000 par value) that pays 8 percent annual interest, but makes interest payments on a semiannual basis (4 percent semiannually). What is the bond's yield to maturity?
The bond's yield to maturity is %.(Round to two decimal places.)
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