Question
Ponzi Corporation has bonds on the market with 13.5 years to maturity, a YTM of 7.40 percent, and a current price of $1,059. The bonds
Ponzi Corporation has bonds on the market with 13.5 years to maturity, a YTM of 7.40 percent, and a current price of $1,059. The bonds make semiannual payments. |
What must the coupon rate be on these bonds? (Round your answer to 2 decimal places. (e.g., 32.16)) |
| Coupon rate | % |
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
11th Global Edition
1292094184, 978-1292094182
