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Suppose an investor earned a yield of 7.2 percent p.a on a bond paying coupons twice a year. What is the effective annual yield (EAY)

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Suppose an investor earned a yield of 7.2 percent p.a on a bond paying coupons twice a year. What is the effective annual yield (EAY) on this investment? (answer as a percentage rounded to two decimal places without % signog 2.889% would be written 2.89)

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