Question: I need help with this Finance question it involves Yield to Maturity. A bond's market price is $950. It has a $1,000 par value, will

I need help with this Finance question it involves Yield to Maturity.

A bond's market price is $950. It has a $1,000 par value, will mature in

14 years, and has a coupon interest rate of 8 percent annual interest, but

makes its interest payments semiannually. What is the bond's yield to maturity?

What happens to the bond's yield to maturity if the bond matures in 28 years? What if it

matures in 7 years? (Round to two decimal places.) Also please explain the steps, thank you!

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