diff --git a/src/generics.jl b/src/generics.jl
index f848ee83..608afe78 100644
--- a/src/generics.jl
+++ b/src/generics.jl
@@ -58,17 +58,11 @@ Yields.Rate{Float64, Yields.Periodic}(0.03960780543711406, Yields.Periodic(2))
 
 """
 function par(curve, time; frequency=2)
-    mat_disc = discount(curve, time)
     coup_times = coupon_times(time,frequency)
-    coupon_pv = sum(discount(curve,t) for t in coup_times)
     Δt = step(coup_times)
-    r = (1-mat_disc) / coupon_pv
-    cfs = [t == last(coup_times) ? 1+r : r for t in coup_times]
-    # `sign(r)`` is used instead of `1` because there are times when the coupons are negative so we want to flip the sign
-    cfs = [-1;cfs]
-    r = internal_rate_of_return(cfs,[0;coup_times])
     frequency_inner = min(1/Δt,max(1 / Δt, frequency))
-    r = convert(Periodic(frequency_inner),r)
+    r = (1-discount(curve,time))/sum(discount(curve,t) for t in coup_times) * 1/Δt
+    r = Periodic(r,frequency_inner)
     return r
 end