Question
A coupon bond with a par value of $1,000 and 16 years remaining until maturity has a price of $879. If the bond's yield-to-maturity is
A coupon bond with a par value of $1,000 and 16 years remaining until maturity has a price of $879. If the bond's yield-to-maturity is 7.6%, what must be its coupon rate? Assume the bond pays coupons semi-annually
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Finance Directors Handbook
Authors: Glynis D Morris, Sonia McKay, Andrea Oates
5th Edition
1566768691, 978-1566768696
