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Memphic Memphic
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5 years ago
Suppose a ten-year bond with semiannual coupons has a price of $1,071.06 and a yield to maturity of 7%. This bond's coupon rate is closest to:
A) 3.5%
B) 6.0%
C) 7.0%
D) 8.0%
Textbook 
Corporate Finance: The Core

Corporate Finance: The Core


Edition: 4th
Authors:
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EgorGruzdevEgorGruzdev
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5 years ago
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More solutions for this book are available here
D
Explanation:  D) I = 3.5, FV = 1000, PV = -1071.06, N = 20, Compute PMT = 40 × 2 = 80/1000 = 8.0%

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