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QUESTION

What is the coupon rate for a bond with three years until maturity, a price of $1,053.46, and a yield to maturity of 6%?

What is the coupon rate for a bond with three years until maturity, a price of $1,053.46, and a yield to maturity of 6%?A) 6%, B) 8%, C) 10%, D) 11%I think the answer is B but I am unsure how to calculate it. Could you please show the work of how you derived at the correct answer?I perfer the formula using a financial calculator if possible.Thank you for your help.

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