Answer:
8.28%
Explanation:
We use the Rate formula shown in the spreadsheet for this question
The NPER specifies the time period.
Given that,
Present value = $932
Future value or Face value = $1,000
PMT = 1,000 × 6.25% ÷ 2 = $31.25
NPER = 4 years × 2 = 8 years
The formula is shown below:
= Rate(NPER;PMT;-PV;FV;type)
The present value come in negative
So, after solving this,
the yield to maturity is 8.28%
