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FIN300 Ltd.'s outstanding bvonds have a $1,000 par value, and they mature in 20 years. Their...

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Finance

FIN300 Ltd.'s outstanding bvonds have a $1,000 par value, andthey mature in 20 years. Their nominal yield to maturity is 9.00%,they pay interest semiannually, and they sell at a price of $985.What is the bond's nominal coupon interestrate?

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3.5 Ratings (443 Votes)
Information provided Face value future value 1000 Time 20 years2 40 semiannual periods Yield to maturity 92 450 Current price present    See Answer
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Transcribed Image Text

FIN300 Ltd.'s outstanding bvonds have a $1,000 par value, andthey mature in 20 years. Their nominal yield to maturity is 9.00%,they pay interest semiannually, and they sell at a price of $985.What is the bond's nominal coupon interestrate?

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