Question: Please use Excel -please show formulas Assume a bond has a par value of $1,000 and matures in 20 years. The annual coupon rate of

Please use Excel -please show formulas

Assume a bond has a par value of $1,000 and matures in 20 years. The annual coupon rate of interest is 10% but interest is paid semiannually. The price of the bond is $900. Find the yield to maturity on this bond. Label your work and print your results.

You can use the rate function for this one. Be sure to enter the payments as semiannual amounts and the time periods as the number of semiannual time periods rather than the number of years. You can omit a guess or type. Finally the result you would get is the semiannual yield so you must multiply the answer by 2 to get the annual yield.

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