Posted by Janiyah on .
XYZ bonds have a 7.60 percent coupon and pay interest annually. The face value is $1,000 and the current market price is $1,062.50 per bond. The bond matures in 16 years. What is the yield to maturity?

Finance 
PHOSUDO,
coupon is=7.60% * 1000=76
Face value=1000
Current market price=1062.50
No of years=16
Kd=C (fcvP) ¡1/2(fcv P)
N
Note
P is current market price
Fcv is our face value.
put the variale in the formula and get your answer