Question: The YTM on a bond can be calculated using the IRR function. Enter the bond price as a negative number and the coupons (on a

The YTM on a bond can be calculated using the IRR function. Enter the bond price as a negative number and the coupons (on a semiannual basis) and maturity value as cash flows. Use the spreadsheet formula = IRR(A1:An), where n is the last cell with a cash flow. Calculate, using the spreadsheet, the ytm for a six-year, 7 percent coupon bond currently selling for $949.75.

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