Question
Rhiannon Corporation has bonds on the market with 21.5 years to maturity, a YTM of 6.80 percent, and a current price of $1,045. The bonds
Rhiannon Corporation has bonds on the market with 21.5 years to maturity, a YTM of 6.80 percent, and a current price of $1,045. 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))
Please show your work so I understand. |
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown, Sanford J. Leeds
11th Edition
1305262999, 1305262997, 035726164X, 978-1305262997
