Homework question help

label Business & Finance
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schedule 1 Day
account_balance_wallet $5

Bonds are trading for a price of $849.11. The bond currently has 12 years until maturity and has a yield to maturity of 9.12%. The bond pays annual coupons and the next coupon is due in 1 year. What is the coupon rate of the bond? (Round 1 decimal place)

Jul 3rd, 2015

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rate =7.86

to the nearest decimal=7.9%

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Jul 3rd, 2015

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