Semiannual Bonds

1. Multiply years by 2 to get periods = 2n.

2. Divide nominal rate by 2 to get periodic rate = kd/2.

3. Divide annual INT by 2 to get PMT  = INT/2.

INPUTS

OUTPUT

2n kd/2 OK INT/2 OK

N I/YR PV PMT FV

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