What’s kd? Coupon = 12% semi; Price = $1,153.72; 15 years.

60

60 + 1,000

60

0

1

2

30

I = ?

30 -1153.72 60 1000

5.0% x 2 = kd = 10%

N

I/YR

PV

FV

PMT

-1,153.72

INPUTS

OUTPUT

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