Answer:
YTM 5.94%
Step-by-step explanation:
The yield to maturity is the rate at which the present value of the bonds coupon payment and maturity matches the current bond price:
The coupon payment is an ordinary annuity
Coupon payment: 4,400 (100,000Y x 4.4%)
time 15 years
rate 0.059382123
PV 42,906.9498Y
Maturity 100,000.00Y
time 15.00
rate 0.059382123
PV 42,093.05Y
PV c 42,906.9498Y
PV m 42,093.0502Y
Total 85,000Y
This is done with excel using goal seek tool or with a financial calculator.