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Please include step by step instructions using formula NOT excel. PV=A [1-1/(1+k)n ]/k + Par value/(1+k)n 3. Find the following bonds yield to maturity (YTM):

Please include step by step instructions using formula NOT excel.

PV=A [1-1/(1+k)n ]/k + Par value/(1+k)n

3. Find the following bonds yield to maturity (YTM): Current price: $950 Par value: $1,000 Coupon rate: 4% Maturity: 10 years

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