Problempage enterprises has bonds on the market making, Ask an Expert

Accounting

Problem:

Page Enterprises has bonds on the market making annual payments, with ten years to maturity, and selling for $968. At this price, the bonds yield 6.90 percent.

Required:

What must the coupon rate be on the bonds?

Note: Please show how to work it out.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91171886

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