Answer:
the yield to maturity is 5.92%
Explanation:
The computation of the yield to maturity is shown below:
Given that
NPER = 30 × 2 = 60
PMT = $100 × 6.5% ÷ 2 = $3.25
Present Value = $108
Future Value = $100
The formula is shown below:
= RATE(NPER:PMT;-PV;FV;type)
After applying the above formula
The yield to maturity is
= 2.96% × 2
= 5.92%
hence, the yield to maturity is 5.92%
