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How do you find the PMT, on pen and paper? NO EXCEL PLEASE! 6) A fourteen-year, semiannual coupon bond is selling for $898.56. The bond

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How do you find the PMT, on pen and paper? NO EXCEL PLEASE!

6) A fourteen-year, semiannual coupon bond is selling for $898.56. The bond has a face value of $1,000 and a yield to maturity of 6.03 percent. What is the coupon rate? A) 9.54 percent B) 4.23 percent C) 6.03 percent D) 4.95 percent E) 10.54 percent

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