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Problem 16-12 (Algo) Zero-coupon bond yield [LO 16-2] Assume a zero-coupon bond that sells for $412 and will mature in 15 years at $2,250. Use

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Problem 16-12 (Algo) Zero-coupon bond yield [LO 16-2] Assume a zero-coupon bond that sells for $412 and will mature in 15 years at $2,250. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. What is the effective yield to maturity? Note: Assume annual compounding. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places

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