What is the bond nominal coupon interest rate

Reference no: EM131977676

Question: Garrett Company's outstanding bonds have a $1,000 par value, and they mature in 25 years. Their nominal annual yield to maturity is 8.20%. They pay interest semiannually, and sell at a price of $875. What is the bond's nominal coupon interest rate? Your answer should be between 4.25 and 9.10, rounded to 2 decimal places, with no special characters.

Reference no: EM131977676

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