Tutak Industries issued a $1,000 face value bond a number of years ago that will mature in eight years. Similar bonds are yielding 8%, and the Tutak bond is currently selling for $1,291.31. Compute the coupon rate on this bond. (In practice, we generally are not asked to find coupon rates.) (Hint: Substitute and solve for the coupon payment.)
Answers: 3
+ A [![[\frac{1-\frac{1}{(1+r)^{N} } }{r} ]](/tpl/images/0571/3907/d9765.png)
]
+ A ![[\frac{1-\frac{1}{(1+0.08)^{8} } }{0.08} ]](/tpl/images/0571/3907/2870a.png)
x 100
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Tutak Industries issued a $1,000 face value bond a number of years ago that will mature in eight yea...
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