# Keenan Industries has a bond outstanding with 15 years to maturity, an 8.25% nominal coupon, semiannual payments, and a \$1,000 par value. The bond has a 6.50% nominal yield to maturity, but it can be called in 6 years at a price of \$1,045. What is the bond's nominal yield to call?  The answer is5.59% I want to know the formula to calculate by the financial calculator. Thanks

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Keenan Industries has a bond outstanding with 15 years to maturity, an 8.25% nominal coupon, semiannual payments, and a \$1,000 par value. The bond has a 6.50% nominal yield to maturity, but it can be called in 6 years at a price of \$1,045. What is the bond's nominal yield to call?

5.59%

I want to know the formula to calculate by the financial calculator. Thanks
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Step 1

Following information’s are given in the question:

Step 2

Step-1

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