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Company Z's bonds have a $1,000 par value, and they mature in 30 years. The nominal, annual yield to maturity is 8.25%, but they pay
Company Z's bonds have a $1,000 par value, and they mature in 30 years. The nominal, annual yield to maturity is 8.25%, but they pay interest semiannually, and their current price is $770. What is the bond's nominal coupon interest rate? a. 8.25% b. 3.08% c. 7.71% d. 6.17% e. 9.34%
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