Often, YTM is a calculation best left to a pre-programmed calculator. Bond YTM vs. Coupon Rate One important fact to remember is that a bond’s yield to maturity is not the same as its coupon rate. The ...

To calculate the annual imputed interest, you must calculate the zero's yield to maturity, or YTM. This number represents the rate of gain in the present value of the note over an accrual period.