Sunset Sales has 6.8 percent coupon bonds on the market with 11 years left to maturity. The bonds make semiannual payments and currently sell for 98.6 percent of par ($986). What is the YTM
Number of periods = 11 * 2 = 22
Coupon = (6.8% of 1000) / 2 = 34
YTM = 6.98%
Keys to use in a financial calculator:
2nd P/Y 2
FV 1000
PV -986
N 22
PMT 34
CPT I/Y
Sunset Sales has 6.8 percent coupon bonds on the market with 11 years left to maturity....
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