| K = N |
| Bond Price =∑ [(Annual Coupon)/(1 + YTM)^k] + Par value/(1 + YTM)^N |
| k=1 |
| K =14 |
| 900 =∑ [(7*1000/100)/(1 + YTM/100)^k] + 1000/(1 + YTM/100)^14 |
| k=1 |
| YTM% = 8.23 |
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