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Pentagon International issued bonds with a par value of 1000 on January 1, 1990 to a 20-year term. Today, January 1, 2003, its yield at
Pentagon International issued bonds with a par value of 1000 on January 1, 1990 to a 20-year term. Today, January 1, 2003, its yield at maturity is 10% and its current price is 950 dollars. The bonds make semiannual payments. What will be the coupon rate for these bonds?
I need to see the procedure. I do not need to do it using a financial calculator
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