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Consider the following bond where the coupons are paid annually, Bond Bank of Montreal Price $ 1 0 2 2 . 0 0 YTM 7

Consider the following bond where the coupons are paid annually,

Bond Bank of Montreal

Price $

1022.00

YTM

7 %

Years to maturity

14

years

What is the coupon rate of this bond? The face value of the bond is $

1, 000 .

Enter your answer as a percentage. Do not include the percentage sign in your answer.

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