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  3. a $1,000 par value bond has a current price of $84

A $1,000 par value bond has a current price of $845.69 and a maturity value...

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Finance

image A $1,000 par value bond has a current price of $845.69 and a maturity value of $1,000 and matures in 4 years. If interest is paid semiannually and the bond is priced to yield 9%, what is the bond's annual coupon rate? The bond's annual coupon rate is \%. (Round to three decimal places.)

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