Calculating Coupon rate of a bond – Ch 6 A bond has a par va…

Calculating Coupon rate of a bond – Ch 6 A bond has a par value of $1,000, a current yield of `a` percent, and semiannual coupon payments. The bond is quoted at `b`. What is the coupon rate of the bond (in percent; for example 7.4%, not 0.074)? Hint: The current yield of a bond is calculated by dividing the annual coupon payment by the bond’s current market value.