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solve fast with all steps or use excel sheet and provide with formulas A $100 bond with annual coupons is redeemable at par at the

solve fast with all steps or use excel sheet and provide with formulas
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A \$100 bond with annual coupons is redeemable at par at the end of 16 years. At a purchase price of $92 the yield rate is exactly 1% more than the coupon rate. Find the yield rate on the bond. A. 11.23% B. 2.41% C. 5.5% D. 9.63% E. 11.55%

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