Hello,

I am having trouble understanding this assignment. Is there a specific equation to calculate Yield to maturity?

A Japanese company has a bond outstanding that sells for 105.43 percent of its 100,000 par value. The bond has a coupon rate of 3.4 percent paid annually and matures in 16 years. What is the yield to maturity of this bond? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Yield to maturity _