A $1,000 face value bond is currently quoted at 100.8. The bond pays semiannual payments of...
A $1,000 face value bond is currently quoted at 100.8. The bond pays semiannual payments of $22.50 each and matures in six years. What is the coupon rate?
Homework Answers
Par value = $1,000
Semi annual coupon payment = $22.50
Annual Coupon rate = ($22.50 / $1,000) × 2
= 2.25% × 2
= 4.50%
Annual Coupon rate is 4.50%.
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