Answered: A 21-year, semiannual coupon bond sells…

A 21-year, semiannual coupon bond sells for $961.87. The bond has a par value of $1,000 and a yield to maturity of 6.99 percent What is the bond's coupon rate? Multiple Choice 6.31% О 4.98%

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter4: Bond Valuation

Section: Chapter Questions

Problem 14P: Current Yield with Semiannual Payments A bond that matures in 7 years sells for $1,020. The bond has...

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Question

A 21-year, semiannual coupon bond sells for $961.87. The bond has a par value of $1,000 and a yield to maturity of 6.99 percent.
What is the bond's coupon rate?
Multiple Choice
О
6.31%
О
4.98%
О
6.64%
3.32%
О
5.98%

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