A bond pays 8 percent coupon semiannually. It has 20 years to maturity. If YTM is 10

Question:

A bond pays 8 percent coupon semiannually. It has 20 years to maturity. If YTM is 10 percent, what is the current price of the bond?

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...