save & Exit | | Submit value 10.00 points Barnes Enterprises has bonds on the market making annual payments, with 18 years to maturity, a par value of $1,000, and a price of $970. At this price, the bonds yield 8.2 percent. What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate 1% References eBook &Resources Worksheet Learning Objective: 06-02 Describe bond values and why they fluctuate. Difficulty: 1 Basic Section: 6.1 Bonds and Bond Valuation
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