Bond Yields and Prices

YTM= (Par Value/Price)1/n -1. Investors earn the YTM if the bond is held to maturity, all coupons are reinvested at YTM, and rates do not change. Other Yields. Treasury bill yields: Discount yield (d): where n is number of days to maturity; price is expressed in dollars per $100 of par value or face amount. Equivalent bond or coupon yield (i): ................
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