What is the bands coupon rate
Problem:Calculating Coupon Rates
A 16-year, semiannual coupon bond sells for $997.27. The bond has a par value of $1,000 and a yield to maturity of 6.60 percent. What is the band's coupon rate?
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What is the market price of the bond if the par value is $1000 and the yield to maturity is 7.75%?
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