Search found 10824 matches

by Kevin M
Fri Oct 18, 2019 6:20 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

Just completed funding an IRA CD as well today. That took a bit longer, but IRA transfers typically do. Did they agree to lock the rate when you initiated the IRA transfer? I've done many, but I did get burned by the rate dropping once or twice, so I'm less willing to jump on these deals in an IRA ...
by Kevin M
Wed Oct 16, 2019 8:43 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

I opened and funded two CD's two weeks ago. Opened share account and funded it and then the CD's all in one day. Funds were same day wired (not ACH) from Fidelity at no cost. You beat me. It took me two days (I submitted the application Monday, but that was a bank holiday, so it doesn't count). Acc...
by Kevin M
Tue Oct 15, 2019 9:02 pm
Forum: Personal Investments
Topic: CD is maturing, what to do
Replies: 4
Views: 1074

Re: CD is maturing, what to do

I have a large cd that will mature this month at my local bank. It was invested at 2%. I highly doubt they will renew at that %. I am 55 and not retired. I have investments at vanguard and fidelity as well as a cd at vanguard. I kept the money local thinking I could always get it if needed. Would I...
by Kevin M
Tue Oct 15, 2019 8:34 pm
Forum: Personal Investments
Topic: Investing into CDs vs Bonds
Replies: 13
Views: 1711

Re: Investing into CDs vs Bonds

What do you guys think about investing in CDs and stocks vs bonds and stocks. Do bonds outperform CDs? I hold both CDs and bond funds. I also hold some individual muni bonds, and have held Treasuries when yields were more competitive with the alternatives. To get the best CD rates, you often have t...
by Kevin M
Tue Oct 15, 2019 7:46 pm
Forum: Personal Consumer Issues
Topic: Barclays Savings Rate Drops to 1.9% (October 9, 2019)
Replies: 10
Views: 979

Re: Barclays Savings Rate Drops to 1.9% (October 9, 2019)

Vanguard Prime Money Market 1.97% SEC yield now down to 1.96%, but you want to look at compound yield if comparing to APY at a bank or credit union. At 1.96% SEC yield, compound yield is 1.98%. Kevin You can beat that easily with an FDIC insured bank; why is this even on the table? Because this thr...
by Kevin M
Tue Oct 15, 2019 7:36 pm
Forum: Personal Investments
Topic: Is VUSXX Really Safer Than FDIC Insured Bank Account?
Replies: 22
Views: 1870

Re: Is VUSXX Really Safer Than FDIC Insured Bank Account?

Yes, I consider VUSXX as safe as an FDIC-insured bank account. Also, due to the state tax exemption, your taxable-equivalent yield (TEY) might be higher than many of the higher-yielding bank accounts. At my marginal tax rates of 27% fed and 8% state, my compound TEY for VUSXX at 1.88% SEC yield is 2...
by Kevin M
Tue Oct 15, 2019 7:26 pm
Forum: Personal Consumer Issues
Topic: Barclays Savings Rate Drops to 1.9% (October 9, 2019)
Replies: 10
Views: 979

Re: Barclays Savings Rate Drops to 1.9% (October 9, 2019)

Both my credit unions have held the rates they pay on their high-interest checking accounts above 2%... one at 2.02% and the other a 3.5% :D Are these reward checking accounts (RCAs)? If so, what are the balance caps? I have an RCA at a bank earning 3.33%, but balance cap is $25K. At a Bank you are...
by Kevin M
Tue Oct 15, 2019 7:18 pm
Forum: Personal Consumer Issues
Topic: Barclays Savings Rate Drops to 1.9% (October 9, 2019)
Replies: 10
Views: 979

Re: Barclays Savings Rate Drops to 1.9% (October 9, 2019)

greg24 wrote:
Thu Oct 10, 2019 1:13 pm
Vanguard Prime Money Market 1.97%
SEC yield now down to 1.96%, but you want to look at compound yield if comparing to APY at a bank or credit union. At 1.96% SEC yield, compound yield is 1.98%.

Kevin
by Kevin M
Tue Oct 15, 2019 6:54 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

Incidentally, these are great CD deals. With the 2-year Treasury at 1.63% and the 3-year at 1.60%, your yield premium is about 140 basis points on the 2-year CD at 3%, and 165 basis points on the 3-year at 3.25%. To be fair, Treasuries are exempt from state income tax, so if bought in a taxable acc...
by Kevin M
Tue Oct 15, 2019 6:45 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

Unfreezing my Experian account and completing the application was easy--less than 30 minutes, much of that time spent searching for my scanned driver license. Tomorrow I'll call my bank with the large savings account and ask if I can wire a large amount directly to the credit union. Their ACH limit...
by Kevin M
Tue Oct 15, 2019 4:17 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

The rest of my savings are in Vanguard's Prime Money Market Fund. VMMXX 7-day SEC yield is 1.96%, better than my savings account at Ally. Thank you for reminding me about Vanguard as a legitimate parking for cash. Victoria Yep. Note that to compare to bank APY you should use the compound yield, not...
by Kevin M
Tue Oct 15, 2019 4:13 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

As the title of this thread is "Best CD rates", I'd like to re-define "best" as "optimal combination" -- and pose a question as follows: What are 3 to 5 banks and credit unions that consistently offer high CD rates and allow to move money among them relatively easily? I am quite pleased with: 1) Na...
by Kevin M
Tue Oct 15, 2019 3:47 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

You need to submit the transfer from your bank's website, and hope that your bank supports next-day ACH. What bank is good that you rec'd for excellent ACH services and rates? Maybe I'll sign up and use that as my hub instead? The current one I have (Northern) offers 1 day ACH to Fidelity/Vanguard ...
by Kevin M
Mon Oct 14, 2019 7:50 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

From the posts here, it sounds like you can't just provide PSECU with routing and account number of an external bank to fund the CD. I noticed there was no option to link an external bank account to my newly opened PSECU account on the PSECU website. I called PSECU and they said linking external ac...
by Kevin M
Mon Oct 14, 2019 12:34 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

If you are so confident a 1.4% spread over the comparable Treasury is such a good deal, the move you should make is actually to buy long term treasuries, not CDs. That is absurd, on several levels. First, the 30y Treasury yield is 2.22%--only about 60 basis points over the 2y or 3y Treasuries--nowh...
by Kevin M
Sun Oct 13, 2019 8:46 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 88
Views: 8852

Re: Best CD rates thread

Does PSECU allow adding beneficiaries to make it a payable on death (POD) account? Is it easy? I didn't see this mentioned yet, and it is a requirement for me. Incidentally, these are great CD deals. With the 2-year Treasury at 1.63% and the 3-year at 1.60%, your yield premium is about 140 basis poi...
by Kevin M
Thu Oct 03, 2019 6:36 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 12296
Views: 2102681

Re: U.S. stocks in free fall

Small Caps have been lagging all through this bull market since 2010 or so <snip> <snip> Small caps were never lagging from 2010 .... only the past 12 months has the SP500 caught up. Right, small caps actually were leading large caps for most of the time since 2010 . In chart below, Portfolio 1 = V...
by Kevin M
Thu Sep 26, 2019 8:21 pm
Forum: Investing - Theory, News & General
Topic: I can't believe I am thinking this [Panic and Survival 2008-09]
Replies: 356
Views: 184535

Re: Re:

Even with low bond yields, bond funds can still give decent returns. The TSP F fund (total bond fund) is up +7.96% YTD. In the short term, sure. Longer term, you're not going to make much more than the initial yield. All that 8% return did is "front load" the returns for the next 10 years, so the r...
by Kevin M
Wed Sep 25, 2019 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1095
Views: 129706

Re: Fidelity as a one stop shop

To clarify, it didn't happen instantly. The rep had to put in a request, and then it got done within a few days. Maybe it's a case by case thing. The way I have things set up now, I wouldn't even bother with the phone call. I can transfer instantly from the trust brokerage to the TOD brokerage or C...
by Kevin M
Tue Sep 24, 2019 8:08 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 1266
Views: 77559

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

Duration of a short term bond is relatively unchanged regardless of where yields are..... but duration of a long term bond is greatly impacted by where yields are. If you're talking about par bonds, then yes. With a zero-coupon bond, it doesn't much matter where yields are, since modified duration ...
by Kevin M
Tue Sep 24, 2019 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1095
Views: 129706

Re: Fidelity as a one stop shop

One workaround for trust accounts is that if you get an external bank set up for a non-trust account, Fidelity may add that bank to the trust account if you call and request it. They did this once for me. Thanks Kevin. I talked to Fidelity a few days ago and the rep insisted that mailing in the EFT...
by Kevin M
Tue Sep 24, 2019 7:01 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 1266
Views: 77559

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

Sure, and as you approach 0% the 1% per year of duration rule breaks due to convexity and you start to get even more gains (or losses)<snip> That's not quite correct. First, what you're talking about is not convexity, as I've explained multiple times. Second, it's not a "duration rule", but a "dura...
by Kevin M
Mon Sep 23, 2019 7:43 pm
Forum: Investing - Theory, News & General
Topic: Google sheets not pulling stock prices
Replies: 117
Views: 16388

Re: Google sheets not pulling stock prices

Last night I discovered something very cool. With one small change to the URL used by this custom function, the same script will retrieve the same data and attributes for all 80 Vanguard ETFs! The only thing that's missing is share class, since the mutual fund script only checks for investor, admir...
by Kevin M
Mon Sep 23, 2019 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1095
Views: 129706

Re: Fidelity as a one stop shop

I've set up a number of external banks at Fidelity, and have had to use every one of the methods mentioned more than once: upload check or statement (quite common), micro deposits, and login authentication. I had one recently where the login method failed (no idea why, as the names are identical on ...
by Kevin M
Thu Sep 19, 2019 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1095
Views: 129706

Re: Fidelity as a one stop shop

Long-time Fidelity customer (as well as Vanguard) and just consolidated paycheck direct deposit, billpay, checking, etc. at Fidelity so I could make some interest. I've never actually used the ATM/Debit card, only electronic transactions. Today someone withdrew about $500 from an ATM 300 miles away...
by Kevin M
Thu Sep 19, 2019 3:01 pm
Forum: Investing - Theory, News & General
Topic: Google sheets not pulling stock prices
Replies: 117
Views: 16388

Re: Google sheets not pulling stock prices

Argh. Nasdaq changed their website and my workaround stopped working. I was using this: =INDEX(IMPORTHTML("https://www.nasdaq.com/symbol/"&"VMFXX","table",3),2,5) to pull in yields (For clarity I'm trying to pull in the 7 day yield.). Anyone else know where can I pull them that still has tables or ...
by Kevin M
Thu Sep 19, 2019 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1095
Views: 129706

Re: Fidelity as a one stop shop

Long-time Fidelity customer (as well as Vanguard) and just consolidated paycheck direct deposit, billpay, checking, etc. at Fidelity so I could make some interest. I've never actually used the ATM/Debit card, only electronic transactions. Today someone withdrew about $500 from an ATM 300 miles away...
by Kevin M
Sun Sep 08, 2019 8:08 pm
Forum: Personal Investments
Topic: How to beat 2% safely?
Replies: 49
Views: 6110

Re: How to beat 2% safely?

My rate is 3.5 but I am nervous about tying up that much in my current home. What if there is a rescession? I ignored the mortgage pay down/off option because of this comment, but agree with other posters that you won't come close to 3.5% with any safe alternative. So I would consider the scenarios...
by Kevin M
Sun Sep 08, 2019 8:01 pm
Forum: Personal Investments
Topic: How to beat 2% safely?
Replies: 49
Views: 6110

Re: How to beat 2% safely?

Direct CDs are once again about the only way to get better-than-market safe yields. USAlliance is offering a 15-month CD at 2.70% APY, for example. Compare to the 1y and 2y Treasury yields of 1.73% and 1.53% respectively, and 2y brokered CD yields of 1.80%-1.90%. The problem is that you probably are...
by Kevin M
Mon Sep 02, 2019 12:08 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 1266
Views: 77559

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

This idea is actually intriguing to me. One thing I don’t understand is why the equity portfolio is dominated by only market beta (and the S&P 500 at that!). Would it not make sense to diversify across geography and other risk factors, such as international, small cap, and/or value (are there ETFs ...
by Kevin M
Sun Sep 01, 2019 4:19 pm
Forum: Investing - Theory, News & General
Topic: Uncle Fred’s Second Coin – The Case for Leveraged Bonds
Replies: 126
Views: 7322

Re: Uncle Fred’s Second Coin – The Case for Leveraged Bonds

This isn't addressing the use of leverage to essentially get LTT duration exposure with leveraged STTs, which is one of the key features of OP's approach. Holding leveraged STTs definitely is not similar to holding cash. I think the OP argument is that sufficiently leveraged STTs offer similar port...
by Kevin M
Sun Sep 01, 2019 3:44 pm
Forum: Investing - Theory, News & General
Topic: NASA FCU- 15 month CD 3.25% [2018]
Replies: 39
Views: 6427

Re: NASA FCU- 15 month CD 3.25% [2018]

One year later... the 15 month CD rate is now 2.40% (for Sept 2019). there's also a 9 month CD for 2.35% If you had $20K to invest in CDs, which of these would you choose? Or should I just go half and half ? thanks in advance! Neither, unless it's in an IRA and you don't want to hassle with an IRA ...
by Kevin M
Sun Sep 01, 2019 3:12 pm
Forum: Investing - Theory, News & General
Topic: Uncle Fred’s Second Coin – The Case for Leveraged Bonds
Replies: 126
Views: 7322

Re: Uncle Fred’s Second Coin – The Case for Leveraged Bonds

<snip> One of my favorite investing books is William Bernstein’s, The Intelligent Asset Allocator. If you haven’t read the book, I highly recommend you grab a copy. In the book, Bernstein introduces us to Uncle Fred and his coin that determines the annual return of an investment. He then shows how ...
by Kevin M
Sun Sep 01, 2019 3:10 pm
Forum: Investing - Theory, News & General
Topic: Dr. Bill Bernstein: Next "Bogleheads on Investing" podcast guest
Replies: 56
Views: 5357

Re: Dr. Bill Bernstein: Next "Bogleheads on Investing" podcast guest

I recently made a post on the forum ( https://www.bogleheads.org/forum/viewtopic.php?f=10&t=289049#p4718045 ) regarding Dr. Benrstein's Uncle Fred's coin flip scenario. I proposed that leveraged bonds would be the best option to use as the second coin. I would be curious to hear what Dr. Bernstein ...
by Kevin M
Sun Sep 01, 2019 1:56 pm
Forum: Investing - Theory, News & General
Topic: Bond Investors Making A Killing
Replies: 85
Views: 9999

Re: Bond Investors Making A Killing

<snip> Second, I said that I think residual living expenses in retirement are rarely nominal, and that mine and other retired people I know aren't. I haven't had a mortgage in many years, and none of my retired family or friends have one either. There is a clear trend on this: <snip> Source: https:...
by Kevin M
Sun Sep 01, 2019 12:35 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 1266
Views: 77559

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

This idea is actually intriguing to me. One thing I don’t understand is why the equity portfolio is dominated by only market beta (and the S&P 500 at that!). Would it not make sense to diversify across geography and other risk factors, such as international, small cap, and/or value (are there ETFs ...
by Kevin M
Sat Aug 31, 2019 8:52 pm
Forum: Investing - Theory, News & General
Topic: Bond Investors Making A Killing
Replies: 85
Views: 9999

Re: Bond Investors Making A Killing

I also like to take advantage of direct CDs when they offer a yield premium of 100 basis points or more above Treasuries Kevin 100 basis points is a lot!! That's about a 50% higher return for CDs (say 3% for CD vs 2% for Treasuries). I'm thinking I would bail on Treasuries if the CD premium was eve...
by Kevin M
Sat Aug 31, 2019 8:05 pm
Forum: Investing - Theory, News & General
Topic: Why is Vanguard Treasury Money Market yield so high?
Replies: 108
Views: 28772

Re: Why is Vanguard Treasury Money Market yield so high?

Kevin, You have a very good deal with your best bank. Although the VUSXX offers a TEY to me of about 2.5% right now, there's no way I'd bet that it would be maintained for the next year. Although one can never predict interest rates, it would be a surprise for most if rates did not trend downwards ...
by Kevin M
Sat Aug 31, 2019 7:11 pm
Forum: Investing - Theory, News & General
Topic: Bond Investors Making A Killing
Replies: 85
Views: 9999

Re: Bond Investors Making A Killing

<snip> Liability matching is more appropriate for entities like insurance companies and pension funds that has specific time periods to which they can match liabilities. Long term bonds are great for them, and they are intended mainly for such entities. Although some of the subsequent posts have cl...
by Kevin M
Sat Aug 31, 2019 4:55 pm
Forum: Investing - Theory, News & General
Topic: Uncle Fred’s Second Coin – The Case for Leveraged Bonds
Replies: 126
Views: 7322

Re: Uncle Fred’s Second Coin – The Case for Leveraged Bonds

I've red from some other posts, particularly https://www.bogleheads.org/forum/viewtopic.php?f=10&t=287627, that long term treasuries provide diversification benefits against stocks that STTs don't. I'm not understanding why this is the case. Is there a reason why LTTs diversify more than STTs (on a...
by Kevin M
Sat Aug 31, 2019 4:47 pm
Forum: Investing - Theory, News & General
Topic: Why is Vanguard Treasury Money Market yield so high?
Replies: 108
Views: 28772

Re: Why is Vanguard Treasury Money Market yield so high?

Whelp, that yield was fun while it lasted. Now to look for an alternative... :beer It's still not bad compared to the alternatives. Compound TEY of VUSXX for me is 2.29% with SEC yield at 2.02% (which incidentally now exactly matches my model yield), which is better than Ally savings at 1.90% APY, ...
by Kevin M
Sat Aug 31, 2019 3:55 pm
Forum: Investing - Theory, News & General
Topic: Bond Investors Making A Killing
Replies: 85
Views: 9999

Re: Bond Investors Making A Killing

The fundamental issue in this debate is quite simply this: many people don’t consider reinvestment risk to be an actual risk. I disagree that this is the fundamental issue in this debate. I certainly understand reinvestment risk as an actual risk, but that doesn't lead me to conclude that I should ...
by Kevin M
Sat Aug 31, 2019 3:10 pm
Forum: Investing - Theory, News & General
Topic: Bond Investors Making A Killing
Replies: 85
Views: 9999

Re: Bond Investors Making A Killing

<snip> Liability matching is more appropriate for entities like insurance companies and pension funds that has specific time periods to which they can match liabilities. Long term bonds are great for them, and they are intended mainly for such entities. Although some of the subsequent posts have cl...
by Kevin M
Tue Aug 27, 2019 1:11 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 12296
Views: 2102681

Re: U.S. stocks in free fall

stocknoob4111 wrote:
Tue Aug 27, 2019 12:32 pm
The 10 Year is at 1.47 now, the 30 year has broken the 2 mark!
The 30y hit 1.98% on 8/15/2019.

The 10y hit 1.37% on 7/15/2016 and 1.43% on 7/25/2012.

Kevin
by Kevin M
Tue Aug 27, 2019 12:42 pm
Forum: Investing - Theory, News & General
Topic: Uncle Fred’s Second Coin – The Case for Leveraged Bonds
Replies: 126
Views: 7322

Re: Uncle Fred’s Second Coin – The Case for Leveraged Bonds

If you want to avoid this negative spread, you can use Fed funds futures or eurodollar futures to go shorter than 2 yrs. You will need to up the leverage higher than 6x due to the shorter duration. Also think in terms of change in yield, the 3 mo t bill has the longest way to fall as of right now, ...
by Kevin M
Mon Aug 26, 2019 6:50 pm
Forum: Investing - Theory, News & General
Topic: Negative Interest Rates in U.S.
Replies: 249
Views: 21785

Re: Negative Interest Rates in U.S.

Corporate bonds will never go negative. Some already have. Link? We are talking about Vanguard VBTLX. Globally, over $1 trillion worth. Including some issued overseas by US companies. That is backward Beardstown accounting click bate. The bonds were not issued with negative yields. "Investors don’t...
by Kevin M
Mon Aug 26, 2019 6:21 pm
Forum: Investing - Theory, News & General
Topic: Uncle Fred’s Second Coin – The Case for Leveraged Bonds
Replies: 126
Views: 7322

Re: Uncle Fred’s Second Coin – The Case for Leveraged Bonds

If you want to avoid this negative spread, you can use Fed funds futures or eurodollar futures to go shorter than 2 yrs. You will need to up the leverage higher than 6x due to the shorter duration. Also think in terms of change in yield, the 3 mo t bill has the longest way to fall as of right now, ...
by Kevin M
Mon Aug 26, 2019 3:16 pm
Forum: Investing - Theory, News & General
Topic: Uncle Fred’s Second Coin – The Case for Leveraged Bonds
Replies: 126
Views: 7322

Re: Uncle Fred’s Second Coin – The Case for Leveraged Bonds

To get data going back to 1955, I uploaded monthly return data to PV and made my own ticker symbols. What is your data source for short-term Treasuries (STT) back to 1955? I assume you're using simulated returns of some sort for the older returns. I know we have simulated annual STT returns back fu...
by Kevin M
Mon Aug 26, 2019 3:08 pm
Forum: Investing - Theory, News & General
Topic: Uncle Fred’s Second Coin – The Case for Leveraged Bonds
Replies: 126
Views: 7322

Re: Uncle Fred’s Second Coin – The Case for Leveraged Bonds

If you want to avoid this negative spread, you can use Fed funds futures or eurodollar futures to go shorter than 2 yrs. You will need to up the leverage higher than 6x due to the shorter duration. Also think in terms of change in yield, the 3 mo t bill has the longest way to fall as of right now, ...
by Kevin M
Sun Aug 25, 2019 5:17 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 1266
Views: 77559

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

https://www.fidelity.com/bin-public/060_www_fidelity_com/images/LC/70_2_1.png OK. That chart, or something similar, is easy to replicate in a spreadsheet with PV or PRICE. To demonstrate, here are the calculations for 8%, 9% and 10% yields, using PV and my preferred approach of using FV = 1 so I ca...