A bond security has a $$1000$ par value, $10$ years to maturity, $7\%$ coupon payments $($annual compounding$),$ and

currently sells for $$985$

Briefly explain the business meaning of YTM$,$ assuming that you are providing an investment seminar to

an audience with little or no financial background.

a$).$ Same as the current yield

b$).$ Same as the bond price appreciation

c$).$ Same as the bond capital appreciation

d$).$ Same as the dividend yield

e$).$ Total return if you hold the bond until it matures