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Tyler bought a 7-year bond for $1,015.10. The bond pays a coupon of 8% per year and payments are made semiannually. Calculate the Effective Annual

Tyler bought a 7-year bond for $1,015.10. The bond pays a coupon of 8% per year and payments are made semiannually. Calculate the Effective Annual Yield to maturity (EAY) on this bond?

a. 7.87%

b. 7.72%

c. 8.52%

d.10.72%

e. 7.30%

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