Question
OLD Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 15 years. Their nominal annual, not quarter yield to maturity is 9.6%,
OLD Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 15 years. Their nominal annual, not quarter yield to maturity is 9.6%, they pay interest quarterly, and they sell at a price of $920.94. What is the bond's nominal coupon interest rate?
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk
11th Edition
0324422865, 978-0324422863
