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A bond price of $987.50 has a face value of $1000, pays 5% semiannually, and will repay the face value in 15 years.

5% tables Present Values Pv Annuity
year 13 .53032 9.39357
year 14 .50507 9.89864
year 15 .48102 10.37966

What is the yield to maturity of the loan

a) 4.9%
b) 5.14%
c) 5.00%
d) 2.57%

Can you please include how you got the answer?

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