Question: Finance question - I know the answer but I want detailed explanation for normal calcuator. Bonds Yield to Maturity (YTM) Calculate the YTM on a

Finance question - I know the answer but I want detailed explanation for normal calcuator.

Bonds Yield to Maturity (YTM) Calculate the YTM on a bond with: - $1000 face value - Maturity in 10 years - 7% annual coupon $900 market price . If we are looking for the YTM, we cannot find the solution with our formula! - We need to use computational tools such as our calculator, excel, ... With a Financial calculator - N = 10 PV = $-900 - PMT = $70 FV = $1,000 . ? In Excel = RATE(nper, pmt,pv,fv) = RATE (10,70,-900,1000)

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