The Yield to Maturity (YTM)is

The yield to maturity (YTM) is:

A) the discount rate used to evaluate bonds.
B) the bond's internal rate of return.
C) the yield that an investor would expect to make if he or she bought the bond at the current price, held it to maturity, received all the promised payments on their scheduled dates, and reinvested all the cash flows received at YTM.
D) All of the above.