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Problem 8 - Bond Yields Ashburn Corporation issued 15-year bonds 2 years ago at a coupon rate of 8.2 percent. The bonds make semiannual payments.

Problem 8 - Bond Yields

Ashburn Corporation issued 15-year bonds 2 years ago at a coupon rate of 8.2 percent. The bonds make semiannual payments. If these bonds currently sell for 85 percent of par value, what is the YTM? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Asking for the YTM ___%

If possible, can you include how you got your answer and not just the answer to help me know how to set it up in the future? Thank you!

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