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Posted on May 19, 2024

The bond of Floyd Corp. are currently selling for a price of a bond $ 7 0 0 and the bonds mature in 2 0

The bond of Floyd Corp. are currently selling for a price of a bond $

700

and the bonds mature in

20

years. The yield to maturity of these bonds is

8 % .

This is a semi annual coupon bond with a par value of $

1000 .

How is the coupon rate

4.97 ?

please show work

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