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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.

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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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