Maxcorp S Bonds Sell For 1 006 27 The Bond Life Is 9 Years And The Yield To Maturity 2903355

Maxcorp’s bonds sell for $1,006.27. The bond life is 9 years, and the yield to maturity is 7.9%. What is the coupon rate on the bonds? (Assume a face value of $1,000 and annual coupon payments.)

Prof. Angela

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