Ponzi Corporation has bonds on the market with 14.5 years to maturity, a YTM of 5.49...

Ponzi Corporation has bonds on the market with 14.5 years to maturity, a YTM of 5.49 percent, and a current price of $894.44. The bonds make semiannual payments.

What must the coupon rate be on these bonds?

Expert Solution

The calculation of coupon rate is shown below

Following shows the working

jeff jeffy answered 1 year ago

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