Question
A bond currently trades at $937 on the secondary market. The bond has 16 years until maturity and pays an annual coupon at 7% of
A bond currently trades at $937 on the secondary market. The bond has 16 years until maturity and pays an annual coupon at 7% of face value. The face value of the bond is $1,000. What is the coupon (or current) yield for this bond?(Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example,enter 0.0843 instead of 8.43%)
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
16th edition
125927716X, 978-1259687969, 1259687961, 978-1259277160
