Suppose the following bond quotes for IOU Corporation appear in the financial page of todays newspaper. Assume the bond has a face value of $2,000 and the current date is April 19, 2015.

Coupon= 6.4

Maturity = Apr 19, 2028

Last Price= 103.96

Last Yield= ???

EST Vol (000s) = 1838

A) What is the yield to maturity of the bond? 5.96

B) What is the current yield? 6.16

The bond has 13 years to maturity, so the bond price equation is:

P = $2,079.20 = $64(PVIFA_R%,26) + $2,000(PVIF_R%,26)

R= 2.979%is the semiannual interest rate, so the YTM is: 2 2.979% = 5.96%

The current yield is the annual coupon payment divided by the bond price, so:

Current yield = $128 / $2,079.20

Current yield = .0616, or 6.16%

Please explain in detail how to get P & R using either excel or a financial calculator.