Essary enterprises has bonds on the market making annual, Ask an Expert

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Essary Enterprises has bonds on the market making annual payments, with eleven years to maturity, a par value of $1,000, and selling for $970. At this price, the bonds yield 7 percent. What must the coupon rate be on the bonds? (answer as a percent rounded to 2 decimal places)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91592313

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