A five-year 2000 floating-rate bond with annual coupons had, Ask an Expert

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A five-year $2,000 floating-rate bond with annual coupons had a $2,125 redemption amount and was sold at its face value. The coupon rates were 7%. 6.4%, 5.8%, 6.2%, and 6.6%, successively. What level coupon rate would result in the same yield rate to the investor for the five-year period?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92751999

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