Bonds on the market making annual payments

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Reference no: EM13849808

Essary Enterprises has bonds on the market making annual payments, with twelve years to maturity, a par value of $1,000, and selling for $960. At this price, the bonds yield 6.5 percent.

What must the coupon rate be on the bonds?

Reference no: EM13849808

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Bonds on the market making annual payments : Essary Enterprises has bonds on the market making annual payments, with twelve years to maturity, a par value of $1,000, and selling for $960. At this price, the bonds yield 6.5 percent. What must the coupon rate be on the bonds?

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