I'm looking at possibly purchasing individual municipal bonds, through the Schwab One-Source market. In looking at the listings, I see the coupon price, and also see the asking price. I'm not sure how to calculate the actual return, using those two factors.
For example, if I buy a bond with a coupon rate of 5%, with a maturity one year out, with a price of 105, what would the actual rate of return be for that bond?
Math was never my strong point, so thanks in advance for any help on this.