Ques →Manuel Bought a $100,000 bond with a 5.7% coupon for $92,470 when it had 7 years remaining to maturity. What was the prevailing market tate at the time manuel purchased the bond? Assume that:...

Ques→Manuel
Bought a $100,000 bond with a 5.7% coupon for $92,470 when it had 7 years remaining to maturity. What was the prevailing market tate at the time manuel purchased the bond?

Assume that:

Bond interest is paid semiannually.