Question
Rhiannon Corporation has bonds on the market with 15.5 years to maturity, a YTM of 6.20 percent, and a current price of $1,039. The bonds
Rhiannon Corporation has bonds on the market with 15.5 years to maturity, a YTM of 6.20 percent, and a current price of $1,039. The bonds make semiannual payments.
| What must the coupon rate be on these bonds? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Coupon rate | % |
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Fundamentals of Financial Management
Authors: Eugene F. Brigham
Concise 9th Edition
1305635937, 1305635930, 978-1305635937
