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An 8% bond has a time-to-maturity in 20 years. The bond is sold at $1020.5. How much is this bond's YTM? [Hint: An 8% bond

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An 8% bond has a time-to-maturity in 20 years. The bond is sold at $1020.5. How much is this bond's YTM? [Hint: An 8% bond" means that this bond has 8% coupon rate per year. Each of the coupon payments (PMT) is equal to = Face Value * Coupon Rate = $1000 * 8% = 580.] A) 8.12% B) 7.39% C) 7.79% D) 8.00% E) 7.93%

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