(Answered) You buy a bond for 1154 that pays 40 interest every 6

Finance

You buy a bond for $1154 that pays $40 interest every 6 months. It will reach maturity in 12 years at which time it will return itsface value of $1000 plus the final $40 interest payment. What isthe pre-tax annual rate of return on this bond?Estimate to 2 decimal places.

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