An equation that defines yield to maturity on given bond

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Reference no: EM131220648

Suppose a bond has a face value of $100, annual coupon payments of $4, a maturity of 5 years, and a price of $90.

a. Write an equation that defines the yield to maturity on this bond.

b. If you have the right kind of calculator or software, calculate the yield to maturity.

Reference no: EM131220648

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