What is the yield to maturity on a bond that you purchased for $1,069, assuming that the bond has 8 years to maturity, a par value of $1,000, and a coupon rate of 4.55%?
a. The bond pays coupon interest semiannually. (Round your answer to 4 decimal places.)
Yield to maturity %
b. What is the effective annual yield on this bond? (Round your answer to 4 decimal places.)
Effective annual yield %