Interest Rates and Bond Valuation: Coupon Rates

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Corporate Finance, 9/e

Stephen A. Ross, Massachussetts Institute of Technology

Randolph W. Westerfield, University of Southern California

Jeffrey F. Jaffe, University of Pennsylvania

ISBN 978-0073105901

Chapter 8 Interest Rates and Bond Valuation

4. Coupon Rates Rhiannon Corporation has bonds on the market with 13.5 years to maturity, a YTM of 7.6 percent, and a current price of $1,175. The bonds make a semiannual payments. What must the coupon rate be on these bonds?