IRD Determination G3: Yield to Maturity Method for Bonds (worked example)

[Snoopy]

Snoopy.

C is the Coupon (an amount of dollars) not the Coupon Rate ( a fraction or percentage or...)

See example 1 on the page you reference.

Thanks

The formula is also not precise but approximate and you should refer to this masterful post

An iterative solution is the way to go when you have an equation that cannot be solved algebraically, but has the variable you wish to find on both the RHS and LHS of the equation. But that doesn't seem to apply here. Because the variable you want to find is on the LHS of the equation and all the other variables are known and on the RHS , as far as I can tell.

SNOOPY