Calculate the YTM on a bond priced at $1,036 which has 2 years to maturity, a 10% annual coupon rate, and a return of $1,000 at maturity.
Calculate the YTM on a bond priced at $1,036 which has 2 years to maturity, a 10% annual coupon rate, and a return of $1,000 at maturity.
The data is as follows;
N = 2; PV = $1,036; PMT = -$100; FV = -$1,000; I/Y = ???
The YTM calculated to be as 7.98%