a). To find the YTM, we need to put the following values in the financial calculator:
N = 30*2 = 60;
PV = -990;
PMT = (7.60%/2)*1000 = 38;
FV = 1000;
Press CPT, then I/Y, which gives us 3.843
So, Periodic Rate = 3.843%
Hence, YTM = Periodic Rate * No. of compounding periods in a year
= 3.843% * 2 = 7.686%
b). To find the YTM, we need to put the following values in the financial calculator:
N = 30*2 = 60;
PV = -1000;
PMT = (7.60%/2)*1000 = 38;
FV = 1000;
Press CPT, then I/Y, which gives us 3.8
So, Periodic Rate = 3.8%
Hence, YTM = Periodic Rate * No. of compounding periods in a year
= 3.8% * 2 = 7.6%
c). To find the YTM, we need to put the following values in the financial calculator:
N = 30*2 = 60;
PV = -1155;
PMT = (7.60%/2)*1000 = 38;
FV = 1000;
Press CPT, then I/Y, which gives us 3.214
So, Periodic Rate = 3.214%
Hence, YTM = Periodic Rate * No. of compounding periods in a year
= 3.214% * 2 = 6.428%
A 30-year maturity bond with face value of $1,000 makes semiannual coupon payments and has a...
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