Find what is the yield to maturity on the bonds

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Problem 1: You are considering the purchase of Hytec bonds that were issued 14 years ago. When the bonds were originally sold, they had a 30-year maturity and a 14.375% coupon interest rate that is payable semiannually. The bond is currently selling for $1,508.72. What is the yield to maturity on the bonds?

Option 1. 8.50%

Option 2. 7.67%

Option 3. 14.38%

Option 4. 11.11%

Reference no: EM132643622

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