FIN300 Ltd.’s outstanding bvonds have a $1,000 par value, and they mature in 20 years. Their nom
FIN300 Ltd.'s outstanding bvonds have a $1,000 par value, and they mature in 20 years. Their nominal yield to maturity is 9.00%, they pay interest semiannually, and they sell at a price of $985. What is the bond's nominal coupon interest rate?
Can someone please help me solve this using a written out formula, not on a financial calculator.