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%

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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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%
Transcribed Image Text: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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