I know how to bootstrap the par curve to get the spot curve. But I’m trying to figure out how to go the other way and get the par curve from the spot curve.
1 year spot rate = 1.0%
2 year spot rate = 1.201%
3 year spot rate = 1.251%
1 year par rate = 1.0%
2 year par rate = ?
3 year par rate = ?
Let x = 2 year par rate
100 = (x/1.01) + [(100+x)/1.012012]
Is there a faster way than solving for x?