You purchase a 10 year 100 face value bond at par which has semiannual coupons at 4.5% and a yield of 4.5% compounded semiannually.

Coupons are deposited into an account that earns 3% compounded semiannually.

After 4 years (8 coupons) the bond is sold at a yield rate of 4% compounded semiannually.

Find the yield on the 100 invested over the 4 year period expressed as an interest rate convertible semiannually. In other words, find the modified internal rate of return on the investment.