A municipal bond has 7 years until maturity and sells for $5,037. If the coupon rate...
A municipal bond has 7 years until maturity and sells for $5,037. If the coupon rate on the bond is 4.99 percent, what is the yield to maturity? (Round your answer to 2 decimal places. Omit the "%" sign in your response.)
Homework Answers
| Yield to maturity | =rate(nper,pmt,-pv,fv) | Where, | ||||
| = 4.86% | nper | = | 7 | |||
| pmt | = | $ 249.50 | ||||
| pv | = | $ 5,037.00 | ||||
| fv | = | $ 5,000.00 | ||||
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