Coupon Rates Steen Familie NV has bonds on the market making annual payments, with 13 years to

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Coupon Rates Steen Familie NV has bonds on the market making annual payments, with 13 years to maturity, and selling for €1,045. At this price, the bonds yield 7.5 per cent. The par value of the bond is €1,000. What must the coupon rate be on the bonds?

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