A bond has a par value of $1,000, a current yield of 7.13 percent, and semiannual coupon payments. The bond is quoted at 96.88. What is the coupon rate of the bond?

13.82%

7.13%

6.91%

14.26%

7.77%

Whipple Corp. just issued 335,000 bonds with a coupon rate of 6.35 percent paid semiannually that mature in 20 years. The bonds have a YTM of 6.79 percent and have a par value of $2,000. How much money was raised from the sale of the bonds? (Round your intermediate calculations to two decimal places and final answer to the nearest whole dollar amount.)

$1,224.97 million

$595.47 million

$638.00 million

$670.00 million

$612.48 million

There is a bond that has a quoted price of 95.859 and a par value of $2,000. The coupon rate is 6.57 percent and the bond matures in 15 years. If the bond makes semiannual coupon payments, what is the effective annual interest rate?

3.65%

7.14%

6.43%

3.51%

7.02%