A semiannual 10% coupon bond that matures in 40 years has a current price of $800. What

Question:

A semiannual 10% coupon bond that matures in 40 years has a current price of $800. What is its yield to maturity?

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...