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set decimals to four places and do not use approximate methods. Compute the YTM and YTC in this problem. 6-13 Four years ago Messy House

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set decimals to four places and do not use approximate methods. Compute the YTM and YTC in this problem.

6-13 Four years ago Messy House Painting issued a 20-year bond with a $1,000 maturity value and a 4 percent coupon rate of interest. Interest is paid semiannually. The bond is currently selling for $714. (a) What is the bond's yield to maturity? (b) If the bond can be called in three years for a redemption price of $1,016, what is the bond's yield to call? Show all work by setting up necessary equations with the proper inputs identified. In you show only final results, you will get a score of zero without exception

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