What is the annual coupon rate for this bond? and Bond Chapel's Reneker Organ

What is the annual coupon rate for this bond?

The current price of a 10-year, $ 1,000 bond is $ 1,158.91. Interest on this bond is paid every six months and the YTM is 14% annually. What is the annual coupon rate of this bond?


Bond best answer:

Answer by J
Assuming 10 years left (20 semi-ann pmts.) Using a financial calc, PV=-1158.91
FV=1000
i=7, since it is semi annual
n=20, again because it is semi annual
Hit PMT, and you get $ 85, which is the semi annual payment. Double it to get the annual Payment $ 170, which is a 17% coupon rate on the bond.

Bond

Bond Chapel's Reneker Organ


Image by Chris Smith/Out of Chicago
From the adventures around Chicago with Jimmy McIntyre. We struck out on every building until we got to Bond Chapel, but we had it all to outselves. It was beautiful. The pews have been replaced by seats to make room for Muslim worshippers. I'll miss the pews, but the blue colored seats actually work well here.

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