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Kevin buys a bond with a face value of $12000 that is redeemable at par in 5 years. He wants to yieldj12=7%. If the purchase
Kevin buys a bond with a face value of $12000 that is redeemable at par in 5 years. He wants to yieldj12=7%. If the purchase price is $10737.45, what is the coupon rate,j12?
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International financial management
Authors: Jeff Madura
12th edition
1133947832, 978-1305195011, 978-1133947837
