What is this bond's annual coupon rate as of October 31, 2016?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter5: The Cost Of Money (interest Rates)
Section: Chapter Questions
Problem 16PROB
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Question 11
A Treasury bond maturing on December 15, 2020 is yielding 3.45% and is priced at $1,124.36.
What is this bond's annual coupon rate as of October 31, 2016?
Round to 3 decimal places.
0.062
Transcribed Image Text:Incorrect Question 11 A Treasury bond maturing on December 15, 2020 is yielding 3.45% and is priced at $1,124.36. What is this bond's annual coupon rate as of October 31, 2016? Round to 3 decimal places. 0.062
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