I refer to Q 13, Part A(ii) – Can anyone explain how they came up with 4.427 % return. I tried various things , but I just don’t seem to get the answer. I must be missing something very basic ?!! Please help ! Thanks !!

If you use the TI BA ii plus. I havet tried it on HP 12C though. Hope this is helpful, as we are expected to arrive at the solution using one of the approved calcs. FV= GBP 2 million PMT= GBP 26,000 PV= GBP -1.235 million N= 18 years CPT I/Y you will arrive at the number 4.427%.

Oh so simple… I was overthinking and confusing myself ! Thanks indike…