Wednesday 16 October 2013

Volbeat Corporation has bonds on the market with 12.5 years to maturity, a YTM of 9.8 percent, and a current price of $949. The bonds make semiannual payments.

Volbeat Corporation has bonds on the market with 12.5 years to maturity, a YTM of 9.8 percent, and a current price of $949. The bonds make semiannual payments.

Required:
What must the coupon rate be on the bonds? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

  Coupon rate %  


Explanation:
 

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