Question
Q7. Ally Financial Inc. issues a bond with 10 years until maturity at a current market price of $1,035.60. The face value is $1,000 and
Q7. Ally Financial Inc. issues a bond with 10 years until maturity at a current market price of $1,035.60. The face value is $1,000 and interest is paid semiannually. The yield to maturity on this bond is 7.52 percent. What is the coupon rate? [3 marks]
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Public Finance
Authors: Steven G. Medema, Carl Sumner Shoup
1st Edition
0202307859, 978-0202307855
