Answer:
The yield to maturity is 6.53%
Explanation:
The computation of the yield to maturity is shown below:
Given that
Assume future value be $1,000
The Present value is $977.11
PMT = $1,000 × 5.675% ÷ 2 = $28.375
NPER = 3 × 2 = 6
The formula is given below:
= RATE(NPER;PMT;-PV;FV;TYPE)
The present values comes in negative
After applying the above formula, the yield to maturity is
= 3.263% × 2
= 6.53%
