Nikita Enterprises has bonds on the market making annual payments, with eleven years to maturity, a par value of $ 1,000, and selling for $982. At this price, the bonds yield 7.6 percent. What must the coupon rate be on the bonds? ( Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g 32.16.)
Nikita Enterprises has bonds on the market making annual payments, with eleven years to maturity, a par value of $ 1,000, and selling for $982. At this price, the bonds yield 7.6 percent. What must the coupon rate be on the bonds? ( Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g 32.16.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Nikita Enterprises has bonds on the market making annual payments, with eleven years to maturity, a par value of $ 1,000, and selling for $982. At this price, the bonds yield 7.6 percent. What must the coupon rate be on the bonds? ( Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g 32.16.)
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