Crossfade Co. issued 15-year bonds two years ago at a coupon rate of 6.9 percent. The bonds make semiannual payments.

Question

Required:
If these bonds currently sell for 94 percent of par value, what is the YTM?

Answer 1

940=34.5(PIVIFAr%,n)1,000(PVIFr%,n)

Answer 2

1213

Answer 3

3655