Yield to Maturity ? What is it?. The yield to maturity is that discount rate that equates the current bond price with the discounted value of all future cash flows.Usually you can observe the current market price of a bond (if it is publicly traded)?and since the coupon rate is a fixed percentage of the face value?and the face value is always $1,000, the only thing that we don't know is the YTM..

Yield to Maturity The Approximation Approach

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