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What is the coupon rate fora bond with 5 years until maturity, a price of $1,079.85, and a yield to maturity of 8%? Please explain
What is the coupon rate fora bond with 5 years until maturity, a price of $1,079.85, and a yield to maturity of 8%?
Please explain step by step, without the use of a financial calculator.
Thanks!
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