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O'Brien Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 15 years. Their nominal annual, not semiannual yield to maturity is 7.25%,
| O'Brien Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 15 years. Their nominal annual, not semiannual yield to maturity is 7.25%, they pay interest semiannually, and they sell at a price of $825. What is the bond's nominal coupon interest rate? Do not round your intermediate calculations. | ||||||||||||||||||||||||||||||
| b. 4.94% | ||||||||||||||||||||||||||||||
| c. 5.32% | ||||||||||||||||||||||||||||||
| d. 2.57% | ||||||||||||||||||||||||||||||
| e. 5.13% | ||||||||||||||||||||||||||||||
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
