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What is the coupon payment of a 25-year $1000 bond, 7.5% YTM, and with a 7.5% coupon rate and quarterly payments? Note: Express your answers
"What is the coupon payment of a 25-year $1000 bond, 7.5% YTM, and with a 7.5% coupon rate and quarterly payments? Note: Express your answers in strictly numerical terms. For example, if the answer is $500, write enter 500 as an answer."
Please explain, prefer the excel method if possible just tell me step by step. I believe I understand and have the answer but I want to ensure that I do!
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