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O'Brien Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 25 years. Their nominal annual, not semiannual yield to maturity is 9.25%,
O'Brien Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 25 years. Their nominal annual, not semiannual yield to maturity is 9.25%, they pay interest semiannually, and they sell at a price of $725. What is the bond's nominal coupon interest rate? |
a. | 7.95% |
b. | 6.41% |
c. | 5.77% |
d. | 6.15% |
e. | 7.31% |
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