What is the coupon rate

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Reference no: EM133123672

Innovative Financial Inc. issues a bond with the following information:

  • Par: $1,000
  • Time to maturity: 20 years
  • Yield to maturity: 8 percent
  • Current market price: $1,304.28
  • Quarterly payments

What is the coupon rate?

Reference no: EM133123672

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