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What's the yield to maturity (YTM) of a bond that trades at $865, has 6 years...

What's the yield to maturity (YTM) of a bond that trades at $865, has 6 years left to maturity, a par value of $1,000, & a coupon rate of 10%?

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Answer #1

It is assumed that coupon is paid semi annually.

YTM= 13.339798% calculated using RATE function of Excel as follows:

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