Computation of bond''s coupon interest rate

Reference no: EM1311136

Computation of bond's coupon interest rate

Moussawi Ltd's outstanding bonds have a $1,000 par value, and they mature in 17 years. Their yield to maturity is 9%, based on semi-annual compounding, and the current market price is $853.61. What is the bond's annual coupon interest rate?

Reference no: EM1311136

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