Question i need help trying to find market interest rate calculation. Coupon rate of 12%, 2 coupons/yr, 15 yrs maturity, price of 1153.72, face value of 1000, tax rate 40% I know that n=30, PV=-1153.72, pmt=60, fv=1000. I know that the answer to the problem is 10%, but I cant seem to figure out how to calculate it
Question
i need help trying to find market interest rate calculation. Coupon rate of 12%, 2 coupons/yr, 15 yrs maturity,
price of 1153.72, face value of 1000, tax rate 40%
I know that n=30, PV=-1153.72, pmt=60, fv=1000. I know that the answer to the problem is 10%, but I cant seem to figure out how to calculate it