Question: Finance question - I know the answer for i please show me the steps of how he got the i on a normal calculator, do

Finance question - I know the answer for i please show me the steps of how he got the i on a normal calculator, do not just answer the i - I need detailed explanation for how to solve i in this problem. Showing detailed steps thumbs up otherwise down. Ty

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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