EJ Corp bond carries a 9 percent coupon, paid semi-annually. The par value is $1,000, and the bond matures in 12 years. If the bond currently sells for $905. 50 (PV), what is its yield to maturity?
Enter PV as a negative number. Calculate equal 24 payments ($1,000*. 09/2) and enter.
Remember the last payment is the return of principal plus PMT. Use IRR(cash flows).
