Use the bond pricing formula and Table 6–6 to calculate the number of years (to the nearest 1/1000th of a year) between the May 25, 2016, settlement date and the maturity date on the City of New York general obligation bonds maturing on March 1, 2039. The YTM, 3.40 percent, is rounded from 3.40083577 percent. (LG 6-2)

AppendixLO1