Henley Corporation has bonds on the market with 15.5 years to maturity, a YTM of 10.4...
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Henley Corporation has bonds on the market with 15.5 years to maturity, a YTM of 10.4 percent, a par value of $1,000, and a current price of $944. The bonds make semiannual payments. |
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What must the coupon rate be on the bonds? |
Homework Answers
Calculate the semi annual payment as follows:
Semi annual payment = $48.3245.
Annual payment = $48.3245*2 = 96.65.
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Calculate coupon rate as follows:
Coupon rate = Annual coupon / Face value
Coupon rate = $96.65 / $1000
Coupon rate = 9.67%.
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Henley Corporation has bonds on the market with 15.5 years to
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Chapter 6, Question #4
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