Question
Suppose a bond is currently trading at a price of $990.21, pays an semiannual coupon, and has 26 years left to maturity. Find the coupon
Suppose a bond is currently trading at a price of $990.21, pays an semiannual coupon, and has 26 years left to maturity. Find the coupon rate on this bond if the face value is $1,000, and the YTM = 18.53%.
The answer given was 18.35%, but I'm not sure how to get there.
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The Financial System Financial Regulation And Central Bank Policy
Authors: Thomas F. Cargill
1st Edition
1107035678, 9781107035676
