Question $3$

Consider a $5-$year bond with a $10\%$ coupon rate that trades at a premium. The yield to maturity of this

bond must be

$($a$)$ Lower than $10\%$

$($b$)$ Higher than $10\%$

$($c$)$ Equal to $10\%$

$($d$)$ Need the face value to determine the yield to maturity