Question: correct answer is 2.84. Please show working, thanks! Suppose a five-year, $1000 bond with annual coupons has a price of $886.43 and a yield-to-maturity of

correct answer is 2.84. Please show working, thanks! Suppose a five-year,

correct answer is 2.84. Please show working, thanks!

Suppose a five-year, $1000 bond with annual coupons has a price of $886.43 and a yield-to-maturity of 5.5%. What is the bond's coupon rate? The bond's coupon rate is 38.68 %. (Round to two decimal places.) Your last answer was interpreted as follows: 38.68

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