Bonds on the market making annual payments
Question # 00767778
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Updated on: 06/26/2020 05:48 AM Due on: 06/29/2020
Essary Enterprises has bonds on the market making annual payments, with ten years to maturity, a par value of $1,000, and selling for $968. At this price, the bonds yield 6.9 percent.
What must the coupon rate be on the bonds?
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Rating:
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