Q 13-3 A woman buys a 1.000 par 5-year zero coupon bond priced to yield 6%. At the same time she buys a 5-year 1,000 par bond with 8% semiannual coupons which is priced to yield 7% con- vertible semiannually. The coupon payments are reinvested at 6.5% convertible semiannually. What is her annual effective yield for the combined investment? Answeri 0.613%