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Richmond Corp. issued 20-year bonds three years ago which are currently trading at $928.16. An investors required rate of return on similar debt is 12%
Richmond Corp. issued 20-year bonds three years ago which are currently trading at $928.16. An investors required rate of return on similar debt is 12% and the coupon payments are paid semi-annually. What is the original issue coupon rate for this bond? (please choose the Excel function you should use to find the final answer). PMT(0.06, 34, -928.16, 1000) PMT(0.12, 17, -928.16, 1000) RATE(34, 60, -928.16, 1000) RATE(17, 120, -928.16, 1000)
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