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Bond Yield - HP 12C Platinum User Manual

Financial calculator.
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In ALG mode, perform the steps listed for RPN mode above but replace the last
step with the step below.
Keystrokes
(ALG mode)
+~}

Bond Yield

1. Enter the quoted price (as a percent of par), using $.
2. Enter the annual coupon rate (as a percentage), using P.
3. Key in the settlement (purchase) date, then press \.
4. Key in the maturity (redemption) date.
5. Press fS.
The yield to maturity is shown in the display and also is stored in the i register.
Note:
Remember that the fS function may take a significant amount of
time to produce an answer, during which the calculator displays running.
Example: The market is quoting 122.125% for the bond described in the
preceding example. What yield will that provide ?
Keystrokes
122.125$
6.75P
4.282004\
6.042018
fS
After solving a bond problem, the FV register contains the redemption value plus
the annual coupon rate percentage divided by two, and the n register contains the
days from settlement date to the next coupon date divided by the number of days
in the coupon period in which settlement occurs.
Section 4: Additional Financial Functions
Display
Total price, including accrued
123.07
interest.
Display
Enters quoted price.
122.13
Enters coupon rate.
6.75
Enters settlement (purchase) date.
4.28
Enters maturity (redemption) date.
6.042018
Bond yield.
4.60
83

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