Question: 3. Using the approximate formula for YTM, find the approximate yield to maturity for the following bond with 5% coupon rate if the market price

3. Using the approximate formula for YTM, find the approximate yield

3. Using the approximate formula for YTM, find the approximate yield to maturity for the following bond with 5% coupon rate if the market price is given in the table. Show your work. Years to Maturity Face value Bond Price Approx. YTM 4 5 1000 1000 1000 1000 1100 1050 1000 750 6 8

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