Question
Leuthold Groups outstanding bonds have a $1,000 par value, and they mature in 7 years. Their nominal yield to maturity is 8%, bonds are semiannual,
Leuthold Groups outstanding bonds have a $1,000 par value, and they mature in 7 years. Their nominal yield to maturity is 8%, bonds are semiannual, and the current market price is $853.61. What is the bond's annual (nominal) coupon interest rate?
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Public Finance and Public Policy
Authors: Jonathan Gruber
4th edition
1429278455, 978-1429278454
