The Bank of San Horhe is offering the following bond on 17 January 2017: REGISTERED BOND 17 January 2017 PURCHASE PRICE: $10,998.55 MATURITY DATE: 17...

COUPON RATE: 8.25% pa payable half-yearly

The holder of this bond is entitled to half-yearly coupon payments plus a repayment of the face value at the maturity date.

Calculate the yield to maturity as a percentage per annum compounded half-yearly. You may give your answer as a percentage per annum to the nearest percent or use linear interpolation or a financial calculator to give a more accurate result.

Yield =  % pa