My apologies for the belated reply. I found help from a friend, who suggested I substitute x for (1+Y)^-n. From there, it's a simple matter of using the substitution method on the two equations, and since all I need is the solution to Y, it's not necessary to solve for -n.
The answer turned...
No. But after much agony and banging of my head against the wall, I was able to figure it out. :biggrin: Thanks!
I'm sure I'll be back in the summer when I have Calculus. :eek:
"One bond, with a face value of 1000 dollars and annual coupons at a rate of 7.2 percent effective, has a price of 1001.99 dollars. A second bond, with a face value of 1000 dollars and annual coupons at a rate of 6 percent effective, has a price of 882.83 dollars. Both bonds are redeemable at...