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What is the annual coupon rate for a $1000 face value bond with four years until maturity, a price of $983.44?
I am stuck on which equation to use. Any help would be appreciated.
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- 8 years ago
I think you mean maturity date. You buy that at a discount of about 98% of maturity value. You would need to get the coupon's dollar value to determine the interest rate, or dollars per year / $983.44 = Coupon %
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