(Solved): A young engineering company is a subcontractor in an effort to develop technology that will reliab ...

A young engineering company is a subcontractor in an effort to develop technology that will reliably detect and respond to release of a nuclear weapon. The company is in need of additional funding and issues a series of \( \$ 1,000 \) face value bonds that pay a nominal annual rate of \( 8 \% \) with quarterly payments. The bond matures in 6 years. Part a If you buy one bond for \( \$ 880 \) and keep it until maturity, what is your effective annual rate of return? Click here to access the TVM Factor Table calculator. \( \% \) Carry all interim calculations to 5 decimal places and then round your final answer to 2 decimal places. The tolerance is \( \pm 0.02 \). eTextbook and Media Attempts: 0 of 5 used Part b The parts of this question must be completed in order. This part will be available when you complete the part above.