Question
The 7.0 percent bond of Stepford, Inc. has a yield to maturity of 7.3 percent. The bond matures in seven years, has a face value
The 7.0 percent bond of Stepford, Inc. has a yield to maturity of 7.3 percent. The bond matures in seven years, has a face value of $1,000, and makes semiannual coupon payments. What is the amount of each coupon payment?
A. $30.00
B. $35.00
C. $72.00
D. $34.10
E. $65.00
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