Question
Problem 6-8 Coupon Rates [LO 2] Volbeat Corporation has bonds on the market with 17.5 years to maturity, a YTM of 10.8 percent, and a
Problem 6-8 Coupon Rates [LO 2]
| Volbeat Corporation has bonds on the market with 17.5 years to maturity, a YTM of 10.8 percent, and a current price of $940. The bonds make semiannual payments. |
| Required: |
| What must the coupon rate be on the bonds?(Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).) |
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College Mathematics For Business Economics, Life Sciences, And Social Sciences
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
14th Edition
0134674146, 978-0134674148
