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A municipal bond with a coupon rate of 4.30 percent sells for $4,825 and has eleven years until maturity. What is the yield to maturity

A municipal bond with a coupon rate of 4.30 percent sells for $4,825 and has eleven years until maturity. What is the yield to maturity of the bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

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To find the yield to maturity YTM of the bond we need to solve for the rate r in the present value formula for bonds where the present value price of ... blur-text-image

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