Answer:
10.80%
Explanation:
For this question ,we use the RATE formula that is shown in the spreadsheet attachment. Kindly find it below:
Given that,
Present value = 1,000 × 96% = $960
Assuming figure - Future value or Face value = $1,000
PMT = 1,000 × 10.2% ÷ 2 = $51
NPER = (14 years - 2 years) × 2 = 24 years
The formula is shown below:
= Rate(NPER;PMT;-PV;FV;type)
The present value come in negative
So, after solving this, the yield to maturity is 10.80%