Suppose a five- year, $ 1 comma 000$1,000 bond with annual coupons has a price of $ 904.31$ 904.31 and a yield to maturity of 6.1 %6.1% . What is the bond's coupon rate? Question content area bottom Part 1 The bond's coupon rate is enter your response her

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter12: Investing In Stocks And Bonds
Section: Chapter Questions
Problem 6FPE
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Suppose a five- year, $ 1 comma 000$1,000 bond with annual coupons has a price of $ 904.31$ 904.31 and a yield to maturity of 6.1 %6.1% . What is the bond's coupon rate? Question content area bottom Part 1 The bond's coupon rate is enter your response here % . (Round to three decimal places.) 

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