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Electrolex, Inc., has four-year bonds outstanding that pay a coupon rate of 7.0 percent and...

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Finance

Electrolex, Inc., has four-year bonds outstanding that pay a coupon rate of 7.0 percent and make coupon payments semiannually. If these bonds are currently selling at $916.89. What is the yield to maturity that an investor can expect to earn on these bonds? (Round intermediate calculations to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25%.) Yield to maturity % What is the effective annual yield?

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