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Solve by using RATE formula in Excel. Bond Yields. Chamberlain Co. wants to issue new 20 -year bonds for some much-needed expansion projects. The company

Solve by using RATE formula in Excel.
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Bond Yields. Chamberlain Co. wants to issue new 20 -year bonds for some much-needed expansion projects. The company currently has 7 percent coupon bonds on the market that sell for $1,087, make semiannual payments, and mature in 20 years. What coupon rate should the company set on its new bonds if it wants them to sell at par

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