Show work and the formula you use.
Snoopy Co. issued 12 year bonds two years ago at a coupon rate of 14%. The bonds make semiannual interest payments. If the YTM on these bonds is 10%, what is the current bond price?
Sally Co. issued 15 year bonds two years ago at a coupon rate of 4% which is paid semiannually. If these bonds currently are priced at $592.78, what is the YTM?