Question
OBrien Ltd.s outstanding bonds have a $1,000 par value, and they mature in 16 years. Their nominal yield to maturity is 9.00%, they pay interest
OBrien Ltd.s outstanding bonds have a $1,000 par value, and they mature in 16 years. Their nominal yield to maturity is 9.00%, they pay interest semiannually, and they sell at a price of $960. What is the bonds nominal (annual) coupon interest rate?
A. 8.35% B. 8.52%. C. 9.00% D. 4.26%
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
7th Edition
1265521972, 978-1265521974
