Question: A borrower is repaying a $1000 loan with 10 equal payments of principal. Interest at 6% convertible semiannually is paid on the outstanding balance each

A borrower is repaying a $1000 loan with 10 equal payments of principal. Interest at 6% convertible semiannually is paid on the outstanding balance each year. Find the price to yield an investor 10% convertible semiannually. Do not use excel spreadsheets.

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