Joe Co.has 11 percent coupon bonds on the market with seven years left to maturity. The bondsmake annual payments. If the bond currently sells for $958.89, what is its YTM?
I got an answer of about 11.90%, but its not one of the options on my practice quiz. Can you tell me if i am doing anything wrong. Thanks in advance
n = 7
YTM = ? I get 11.90% about