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Dyl Inc.'s bonds currently sell for $870 and have a par value of $1,000. They pay a $65 annual coupon and have a 15-year maturity, but they can be called in 5 years at $1,100. What is their yield to maturity (YTM)

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Tundexi

Answer:

Yield to maturity(YTM) = 8.02%

Explanation:

Nper = 15

PMT = 65

PV = -870

FV = 1000

Yield to maturity(YTM) = Rate(Nper, PMT, -PV, FV)

Yield to maturity(YTM) = Rate(15,65, -870, 1000)

Yield to maturity(YTM) = 0.080207047

Yield to maturity(YTM) = 8.02%

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