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Given Face Value is $1,000, YTM 4
Given Face Value is $1,000, YTM 4.3%, Coupon Payment is $37, and the Bond Price is $887.00, determine the Number of Periods to Maturity.
Expert Solution
Computation of Number of Years to Maturity using NPER Function in Excel:
=nper(rate,pmt,-pv,fv)
Here,
Nper = Number of Years to Maturity = ?
Rate = 4.3%
PMT = $37
PV= $887
FV = $1,0000
Substituting the values in formula:
=nper(4.3%,37,-887,1000)
NPER or Number of Years to Maturity = 39.43 or 39 years
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