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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

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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. 4.50% O 6.17% 4.95% 4.39%

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