Question
Suppose a bond has the follow characteristics: 1. Yield to maturity: 3.5% APR 2. Coupons paid out quarterly 3. Matures 7 years after today 4.
Suppose a bond has the follow characteristics:
1. Yield to maturity: 3.5% APR
2. Coupons paid out quarterly
3. Matures 7 years after today
4. Face value = $1,000
5. Current price: $1024.00
What is the quarterly coupon payment?
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
12th Edition
1439044473, 978-1439044476
