A $1,000 par value bond sells for $1,216.It matures in 20 years,has a 14 percent coupon,pays interest semiannually,and can be called in 5 years at a price of $1,100.What is the bond's YTM?

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The Answer of A $1,000 par value bond sells for $1,216.It matures in 20 years,has a 14 percent coupon,pays interest semiannually,and can be called in 5 years at a price of $1,100.What is the bond's YTM?

A $1,000 Par Value Bond Sells for $1,216