Bonds - Yield to Call, Yield to Put

The Yield to Call and Yield to Put is a Yield to Maturity assuming that the bond will redeem at the Call / Put date. 

FORMULA

The formula is the same as the one for the Yield to Maturity except the M represents the number of years to Call / Put date

With:

Y = yield to maturity expressed in %.
R = coupon rate.
P = price of the bond.
M = the number of years to Call / Put date.

The relation is:

Yield to Average Life