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QUESTION
The current price of a 10-year, $1,000 par value bond is $1,158. Interest on this bond is paid every six months, and the simple annual yield is...
"The current price of a 10-year, $1,000 par value bond is $1,158.91. Interest on this bond is paid every six months, and the simple annual yield is 14 percent. Given these facts, what is the annual coupon rate on this bond?"
