Question
A $1,000 par value bond has a current price of $891.04 and a maturity value of $1,000 and matures in 7 years. If interest is
A $1,000 par value bond has a current price of $891.04 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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Financial Institutions Management
Authors: Anthony Saunders, Marcia Cornett
8th Edition
0078034809, 978-0078034800
