What is the effective annual yield on these bonds
Problem
The 12-year bonds issued by Golf Companies have a quoted yield to maturity of 7.9 percent, a coupon rate of 8 percent, and semiannual payments. What is the effective annual yield on these bonds?
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The 12-year bonds issued by Golf Companies have a quoted yield to maturity of 7.9 percent. What is the effective annual yield on these bonds?
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