Broke Benjamin Co. has a bond outstanding that makes semiannual payments with a coupon rate of 5.7 percent. The bond sells for $961.87 and matures in 21 years. The par value is $1,000. What is the YTM of the bond?

the  the YTM of the bond is 6%

Step-by-step explanation:

Given:

As we know that, the formula to find out YTM is:

       YTM = [C + (F-P/n) ] / (F+ P) / 2

<=> YTM =  [ 57 + (1000 - )] / (1000 + 961.87)/2

<=> YTM = (57 + 1.87 ) / 980.935

<=> YTM = 0.06* 100% = 6%

So the  the YTM of the bond is 6%

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step-by-step explanation: