Solved: What is the bonds coupon rate, Finance Basics

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What is the bonds coupon rate

Question: You have paid $1,063 for a bond with 9 years remaining to maturity. Interest on the bond is paid semiannually. If current rate of return for similar investments is a nominal 8%, what is this bond's coupon rate? Round answer to two decimal places.

Please provide formulas (not excel)

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Finance Basics: What is the bonds coupon rate

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Finance Basics: What is the bonds coupon rate

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