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Bond’s Nominal Coupon Interest Rate Assignment

Author:
February 24th, 2020

FIN300 Ltd.’s outstanding bonds have a $1,000 par value, and they mature in 20 years. Their nominal yield to maturity is 9.00%, they pay interest semiannually, and they sell at a price of $985. What is the bond’s nominal coupon interest rate?

Can someone please help me solve this using a written out formula, not on a financial calculator. Get Finance homework help today

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