Hi,
Would you show me how to solve #26 problem ONLY using a financial
calculator?
Thank you very much in advance!
Current yield=Coupon rate*Par value/Price=5.7%*100/108.96=5.23127753%
CASE 1: Assuming semi annual coupon
PMT=5.7%*100/2=2.85
PV=-108.96
N=(2028-2015)*2=26
FV=100
CPT I/Y=2.38367153%
Hence, yield to maturity=2.38367153%*2=4.76734306%
CASE 2: Assuming annual coupon
PMT=5.7%*1005.7
PV=-108.96
N=(2028-2015)=13
FV=100
CPT I/Y=4.75989482%
Hence, yield to maturity=4.75989482%
Hi, Would you show me how to solve #26 problem ONLY using a financial calculator? Thank...
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