In: Finance
What is the YTM of the bond given the information below. The bond makes semiannual interest payments.
(Do not round intermediate calculations, round answer to two decimals, i.e. 32.16)
Coupon Rate:7.4%
Maturity (years):18
Current Price: $1,163.80
Par value: $1,000.00
YTM: ? %
YTM CAN BE CALCULATED THROUGH IRR FORMULA
SINCE, COUPON PAYMENTS ARE SEMI-ANNUALLY
THEREFORE, WE HAVE TO MULTIPLY IRR WITH 2 FOR GETTING ANNUALLY YTM