Question: From the equation can someone explain step by step how to get to the answer of r= 9.119% for YTM? (CANNOT USE YTM ON EXCEL,

From the equation can someone explain step by step how to

From the equation can someone explain step by step how to get to the answer of r= 9.119% for YTM?

(CANNOT USE YTM ON EXCEL, must use calculator thus must use this formula)

PV- PV(coupons)+ PV (final payment) ( Coupon Annuity factor) + ( Face value Discount factor ) = $950 s80 +$1,000x r rx(1+r 1+r r-9, 119%

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