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I'm trying to learn the basics, and currently looking at Yield to Maturity. I think I understand it conceptually, but am having trouble with the calculations. Here's a hypothetical that I fed into a bond calculator:

Face: $1,000
Price: $1,200
Coupon: 10%
Years to Maturity: 5 years

At the end of the 5 years one will have collected $500 in interest, and "given up" $200 in face value, for a net of $300.
I tried to solve for Yield to Maturity in my head, and I get 5%.
5% of $1,200 is $60.
$60/year for five years gives $300.
Which is how it actually works out.

However, the bond calculator gives a Yield to Maturity of 5.38%.

Can someone help my understand why the YTM is not exactly 5%?

Thank you.
Cheers
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