Question
A bond is sold at $930. The face value is $1,000. The bond matures in 12 years and pays annual coupons (first coupon will be
A bond is sold at $930. The face value is $1,000. The bond matures in 12 years and pays annual coupons (first coupon will be paid one year from today). The bond has a 12% yield to maturity (annual rate). What is the annual coupon rate?
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
15th Edition
978-0357438480, 0357438485
