Nikita Enterprises has bonds on the market making annual payments, with 14 years to maturity, a par value of ( $ 1,000 ), and selling for ( $ 972 ) At this price, the bonds yleld ( 8.4 ) percent. What must the coupon rate be on the bonds? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal p solutionspile.com

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Nikita Enterprises has bonds on the market making annual payments, with 14 years to maturity, a par value of  (  $ 1,000  ), and selling for  (  $ 972  ) At this price, the bonds yleld  ( 8.4  ) percent. What must the coupon rate be on the bonds? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.  ( 32.16 .  ) solutionspile.com

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