Question: . A bond has a $1,000 par value, 10 years to maturity, and a 7% annual coupon and sells for $985. What is its yield

. A bond has a $1,000 par value, 10 years to maturity, and a 7% annual coupon and sells for $985.

What is its yield to maturity (YTM)?

Assume that the yield to maturity remains constant for the next three years. What will the price be 3 years from today?

Please show step by step without financial calculator or Excel. I want a great understanding of it. Thank you so so much!

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