7. Ch12 Financial Planning Exercise 8 Chapter 12 Financial Planning Exercise 8 Calculating and interpreting current yield and yield to maturity Describe and differentiate between a bond's (a) current yield and (b) yield to maturity. Why are these yield measures important to the bond investor? Find the yield to maturity of a 15 -year, 11%,$1,000 par value semiannual bond trading at a price of $750. What's the current yield on this bond? Round the answers to two decimal places. Yield to maturity % Current yield %