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You purchase a ten-year, $1000 bond for $865.79 with annual coupons is trading with a YTM of 8%. The annual coupon is $_____. Instruction: Type
You purchase a ten-year, $1000 bond for $865.79 with annual coupons is trading with a YTM of 8%. The annual coupon is $_____. Instruction: Type ONLY your numerical answer in the unit of dollars, NO $ sign, and round to one decimal places. E.g., if your answer is $1,001.56, should type ONLY the number 1001.6, NEITHER $1001.6, $1,001.6, NOR 1002. Otherwise, Blackboard will treat it as a wrong answer.
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