Question: Dan is considering the purchase of Super Technology, Inc. bonds that were issued 6 years ago. When the bonds were originally sold they had a 21-year maturity and a 9.54 percent coupon interest rate, paid annually. The bond is currently selling for $988. Par value of the bond is $1,000. What is the yield to maturity on the bonds if you purchased the bond today?
Round the answers to two decimal places in percentage form. (Write the percentage sign in the "units" box).
You should use Excel or financial calculator.