5 Manuel takes a 5 year loan that has 60 end of the month

Last updated: 5/21/2023

5 Manuel takes a 5 year loan that has 60 end of the month payments of L under the nominal annual interest rate of 12 compounded monthly He uses the loan amount to purchase a 1000 par value 10 year bond yielding an annual nominal rate of 8 compounded semi annually and paying semi annual coupons at an annual nominal rate of 6 Find L