Can someone please help me with this question?
If we know the price of a 3 year bond with face value of 1000 and 8% annual coupon is 982.83, how do we find the interest rate?
I understand the equation becomes 982.83=80a(n=3, i=?) +1000v^3 but i have no idea how we use the calculator or mathematical how to find i.
If we know the price of a 3 year bond with face value of 1000 and 8% annual coupon is 982.83, how do we find the interest rate?
I understand the equation becomes 982.83=80a(n=3, i=?) +1000v^3 but i have no idea how we use the calculator or mathematical how to find i.
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