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A bond has a $1,000 face value, a market price of $989, and pays interest payments of $69.50 every year. What is the coupon rate?

A bond has a $1,000 face value, a market price of $989, and pays interest payments of $69.50 every year. What is the coupon rate? Multiple Choice 6.76 percent 700 percent 703 percent 6.95 percent 8.14 percent

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