Question
Rhiannon Corporation has bonds on the market with 18.5 years to maturity, a YTM of 6.5 percent, and a current price of $1,048. The bonds
| Rhiannon Corporation has bonds on the market with 18.5 years to maturity, a YTM of 6.5 percent, and a current price of $1,048. The bonds make semiannual payments. |
| What must be the coupon rate on these bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
| Coupon rate | % |
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Financial Markets And Institutions
Authors: Jeff Madura
5th Edition
0324027443, 9780324027440
