Compute the approximate yield to maturity, Accounting Basics

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Compute the approximate yield to maturity

Problem:

Bonds issued by the Tyler Food Corporation have a par value of $1,000, are selling for $1,430, and have 20 years remaining to maturity. The annual interest payment is 16.5 percent ($165).

Required:

Question: Compute the approximate yield to maturity.

Note: Be sure to show how you arrived at your answer.

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Accounting Basics: Compute the approximate yield to maturity

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Accounting Basics: Compute the approximate yield to maturity

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