Kiss the Sky Enterprises has bonds on the market making annual payments, with 12 years to maturity, and selling for $910. At this price, the bonds yield 11.0 percent. What must the coupon rate be on the bonds?
910 = X*(1+0.11)^1 + X*(1+0.11)^2 +. . . . . + X*(1+0.11)^12
910 = X*1.11 * (1-1.11^12)/(1-1.11)
which gives , X = $ 36.09
Kiss the Sky Enterprises has bonds on the market making annual payments, with 12 years to...
Kiss the Sky Enterprises has bonds on the market making annual payments, with 12 years to maturity, and selling for $810. At this price, the bonds yield 8.5 percent. What must the coupon rate be on the bonds?
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