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Maxcorps bonds sell for $1,223.64. The bond life is 9 years, and the yield to...

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Finance

Maxcorps bonds sell for $1,223.64. The bond life is 9 years, and the yield to maturity is 8.8%. What is the coupon rate on the bonds? (Assume a face value of $1,000 and annual coupon payments.)

*could you please do this in Excel? Thank you. I got 12.50% and it was wrong*

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