Please illustrate that a bond with maturity N years that has coupon equal to its yield is associated with the conversion factor of 1.
I do this by writing out $$\frac1{100} \left( \sum_{t=1}^N \left[ \frac{100 (0.06)}{1.06^t} \right]+\frac{100}{1.06^N} \right)$$ but I do not get that this = 1.
I use the formula:
$$\sum_{k=m}^n a^k = \begin{cases}\frac{a^{n+1} - a^m}{a-1}, \quad &a \neq 1\\n-m+1, \quad &a=1\end{cases}$$