Problem 1. A 30-year maturity bond with face value $1,000 makes annual coupon payments and has a coupon rate of 8 percent. What is the bond's yield to maturity if the bond is selling for
a. $900
b. $1,000
c. $1,100
Problem 2. Repeat the previous problem if the bond makes semiannual coupon payments.
Kindly, put in the formula that has been used to calculate the above.