Homework Answers
rate positively ..
| We have to use financial calculator to solve this | |||||
| put in calculator | |||||
| FV | 1000 | ||||
| PV | -1036 | ||||
| I | 6.3%/2 | 3.15% | |||
| N | 16.5*2 | 33 | |||
| Compute PMT | $33.27 | ||||
| Therefore semiannual coupon rate = 33.27/1000 | 3.33% | ||||
| Annual coupon rate= 33.33%*2 | 6.65% | ||||
| Ans = | 6.65% | ||||
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