Caterpillar, Inc. currently has bonds outstanding with a par value of $1,000, a current price of...

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Caterpillar, Inc. currently has bonds outstanding with a par value of $1,000, a current price of $1,095, a YTM of 8.3 percent, and11 years to maturity. The bonds make semiannual payments. What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate % Caterpillar, Inc. currently has bonds outstanding with a par value of $1,000, a current price of $1,095, a YTM of 8.3 percent, and11 years to maturity. The bonds make semiannual payments. What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate %

Answer rating: 100% (QA)

Par value 1000 Current price 1095 Yield to maturity YTM 83 T... View the full answer