Good morning,
I am stuck on this exercise:
What is the coupon rate for a bond with three years until maturity,$1,000 face value, a price of $1,201.43, and a yield to maturity of6%?
A) 6%B) 8%C) 13,53%D) 11,13%
I tried solving it, but the answer I get is 6,8%, which is not listed, meaning I am doing something wrong here. I would be very grateful if someone could explain how to solve it properly.
I am stuck on this exercise:
What is the coupon rate for a bond with three years until maturity,$1,000 face value, a price of $1,201.43, and a yield to maturity of6%?
A) 6%B) 8%C) 13,53%D) 11,13%
I tried solving it, but the answer I get is 6,8%, which is not listed, meaning I am doing something wrong here. I would be very grateful if someone could explain how to solve it properly.
