Remaining number of interest payments

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Reference no: EM131842915

You have just been offered a bond for $880.10. The coupon rate is 7 percent payable annually, and the yield to maturity on new issues with the same degree of risk are 9 percent. You want to know how many more interest payments you will receive, but the party selling the bond cannot remember. If the par value is $1,000, how many interest payments remain? (Do not round intermediate calculations. Round your answer to the nearest whole number.)

Remaining number of interest payments years.

Reference no: EM131842915

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