Answer:
9.08%
Explanation:
We use the RATE formula that is shown in the attachment below
Given that,
Present value = $898,.49
Assuming figure - Future value or Face value = $1,000
PMT = 1,000 × 6% ÷ 2 = $30
NPER = 4 years × 2 = 8 years
The formula is shown below:
= Rate(NPER;PMT;-PV;FV;type)
The present value come in negative
Therefore,
After solving this, the yield to maturity is 9.08%
