Calculate the semi-annual coupon payment for the bond

Reference no: EM1315523

Calculate the Semi-annual coupon payment for the bond and semi-annual and annual coupon rate

You have paid $1,063.65 for a bond with 9 years remaining to maturity. Interest on the bond is paid semi-annually. If the current rate of return for similar investments is a nominal 8%, what is this bond\'s coupon rate? Round your answer to two decimal places

Reference no: EM1315523

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