Maxcorp S Bonds Sell For 1 036 12 The Bond Life Is 9 Years And The Yield To Maturity 2457376

Maxcorp’s bonds sell for $1,036.12. The bond life is 9 years, and the yield to maturity is 8.9%. What is the coupon rate on the bonds? (Assume a face value of $1,000 and annual coupon payments.) (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.)

Prof. Angela

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