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If a bond with a face value of $100 pays annual coupons at a rate of 4% per annum, what is the coupon received each year?
The coupon payment is calculated as: \(C = F \times r = 100 \times 0.04 = 4\) where \(F\) is the face value and \(r\) is the coupon rate. Therefore, the annual coupon payment is $4.
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