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How do you calculate the PMT for this problem? You are offered the opportunity to purchase a 3.5% coupon bond with 22 years remaining until

How do you calculate the PMT for this problem?

You are offered the opportunity to purchase a 3.5% coupon bond with 22 years remaining until maturity for $815.45. Based on this, the Yield-to-Maturity for this bond is

5.79%

-0.50%

None of the other answers is correct

8.93%

Correct!

4.88%

Set Calculator to 2 Periods Per Year 44 N -815.45 PV 17.50 PMT 1000 FV Solve for I/Y ==> 4.88%

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