Use the bond pricing formula andTable 6-6(Links to an external site.)to calculate the number of years (to the nearest 1/1000th of a year) between the May 25, 2016, settlement date and the maturity date on the City of New York general obligation bonds maturing on March 1, 2039. The YTM, 3.40 percent, is rounded from 3.40083577 percent.

The Table 6-6 link information is below:

Tax Exempt Bonds

Monday, May 23, 2016

Issue is The city of New York Go Bonds, Fiscal 20

Coupon is 4.000

Maturity is 03/01/2039

Price is 109 5/7 = 109.7142857

Yield to maturity (YTM) is 3.40

Thanks lots.