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olasank [31]
3 years ago
10

Skolits Corp. issued 10-year bonds 2 years ago at a coupon rate of 8.7 percent. The bonds make semiannual payments. If these bon

ds currently sell for 108 percent of par value, what is the YTM
Business
1 answer:
kykrilka [37]3 years ago
6 0

Answer:

7.36%

Explanation:

Nper = (10-2)*2 = 16

Pmt = 1000*8.7%/2 = 43.5

Pv = -108%*1000 = -1080

Fv = 1000

YTM = Rate(Nper, pmt, -Pv, Fv)*2

YTM = Rate(16, 43.5, -1080, 1000)*2

YTM = 0.036795696 * 2

YTM = 0.073591392

YTM = 7.3591392%

YTM = 7.36%

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