Polycorp bonds are selling for $103 (FV=100) and mature in five years. The coupon rate is 5%pa, with coupons paid quarterly. What is the effective

Polycorp bonds are selling for $103 (FV=100) and mature in five years. The coupon rate is 5%pa, with coupons paid quarterly. What is the effective annual yield on the bonds? Your supervisor would like you to confirm your answer using the excel Rate Function (Formula)