You are looking at investing in an annual coupon bond with 9 years to maturity, a face value of $1000, a yield to maturity of 6% and a price of $1,096.62. What is the annual coupon of the b (please round your answer to the nearest penny)

You are looking at investing in an annual coupon bond with 9 years to maturity, a face value of $1000, a yield to maturity of 6% and a price of $1,096.62. What is the annual coupon of the b (please round your answer to the nearest penny)

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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You are looking at investing in an annual coupon bond with 9 years to maturity, a face value of
$1000, a yield to maturity of 6% and a price of $1,096.62. What is the annual coupon of the bond?
(please round your answer to the nearest penny)

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