Question
A $ 1,000 par value bond has a current price of $ 864.90 and a maturity value of $ 1,000 and matures in 7 years.
A $ 1,000 par value bond has a current price of $ 864.90 and a maturity value of $ 1,000 and matures in 7 years. If interest is paid semiannually and the bond is priced to yield 8%, what is the bond's annual coupon rate?
The bond's annual coupon rate is ____%
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The Analysis And Use Of Financial Statements
Authors: Gerald I. White, Ashwinpaul C. Sondhi, Haim D. Fried
3rd Edition
0471375942, 978-0471375944
