Problem $28$

Intro

A Treasury coupon bond has $5-$year to maturity with a face value of $$1,000$ and a current market price of $$1,108\mathrm{.}82.$ The bonds pay coupon annually and have a yleld to maturity of $4$ percent. Jake, a bond speculator, just purchased the bond at the current market price.

Part $1$

Attempt $\frac{1}{10}$ for $10$

What is the coupon rate?

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