-Given the Bond Described Above,if Interest Were Paid Semi-Annually (Rather

Multiple Choice

$$\begin{array} { | l | l | } \hline \text { Par Value } & \$ 1,000 \\\hline \text { Time to Maturity } & 18 \text { years } \\\hline \text { Coupon } & 9 ^ { \circ } \% ( \text { paid annually) } \\\hline \text { Current Price } & \$ 917.99 \\\hline \text { Yield to Maturity } & 10 ^ { \circ } \% \\\hline\end{array}$$
-Given the bond described above,if interest were paid semi-annually (rather than annually) ,and the bond continued to be priced at $917.99,the resulting effective annual yield to maturity would be:

A) Less than 10%
B) More than 10%
C) 10%
D) Cannot be determined
E) None of the above