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(Related to Checkpoint 9.2) (Vield to maturity) The market price is $1,050 for a 9 year bond ($1,000 par value) that pays 11 percent amual

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(Related to Checkpoint 9.2) (Vield to maturity) The market price is $1,050 for a 9 year bond (\$1,000 par value) that pays 11 percent amual interest, but makes interest payments on a semiannual basis ( 5.5 percent semlannually). What is the bond's yield to matirity? The bond's yield to maturity is %. (Round to two decimal places.)

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