Nikita Enterprises has bonds on the market making annual payments, with seven years to maturity, a par value of $1,000, and selling for $962. At this price, the bonds yield 6.6 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.) Answer is complete but not entirely correct. Coupon rate 6.00 %

Nikita Enterprises has bonds on the market making annual payments, with seven years to maturity, a par value of $1,000, and selling for $962. At this price, the bonds yield 6.6 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.) Answer is complete but not entirely correct. Coupon rate 6.00 %

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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