Dynamic Technologies has bonds on the market with 15 years to maturity, a yield-to-maturity of 9,2%, and a current price of R995, 09. The bonds make monthly payments. What is the coupon rate?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 4MC
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Dynamic Technologies has bonds on the market with 15 years to maturity, a yield-to-maturity of 9,2%, and a current price of R995, 09. The bonds make monthly payments. What is the coupon rate?

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