YTM can be calculated using I/Y function on a calculator
N = 12 x 2 = 24, PMT = 11% x 1000 / 2 = 55, PV = -1,356.99, FV = 1000
=> Compute I/Y = 3.32% (semi-annual)
=> YTM = 3.32% x 2 = 6.64%
Similarly, for YTC,
N = 6 x 2 = 12, PMT = 55, PV = -1,356.99, FV = 1,202.81
=> Compute I/Y = 3.26% (semi-annual)
=> YTC = 3.26% x 2 = 6.53%
I is correct.
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