F = face values iF = contractual interest rate C = F * iF = coupon payment (periodic interest payment) N = number of payments i = market interest rate,
or required yield, or observed / appropriate yield to maturity (see below) M = value at maturity
All Variables Are As Described Previously. This Model Is Somewhat Complex Because The Solution Requires Iteration. As Noted, The Present Value Equation Is A Variation of The Internal