Robert buys a $10-$year $$1000$ bond with $4\mathrm{.}4\%$ semiannual coupons, redeemable at $$1150,$

and selling for $$1088\mathrm{.}14.$ Robert reinvests the coupons at a nominal annual rate of $6\%,$

compounded semiannually. Determine Robert's annual effective yield rate over the $10-$

year period.

Possible Answers

$4\mathrm{.}71$

$4\mathrm{.}78$

$4\mathrm{.}81$

$4\mathrm{.}87$

$4\mathrm{.}89$