Watters Umbrella Corp. issued 12-year bonds two years ago at a coupon rate of 7.8percent. The bonds

Question:

Watters Umbrella Corp. issued 12-year bonds two years ago at a rate of 7.8 percent. The bonds make semiannual payments. I these bonds currently sell for 105 percent of par value, what is the YTM?
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...