Casio ALGEBRA FX 2.0 PLUS User Manual page 24

2-10 Bonds
The bond calculation function calculates the price and yield of a bond.
u u u u u Formula
PRC
: price per $100 of face value
CPN
: annual coupon rate (%)
YLD
: yield to maturity (%)
A
: accrued days
M
: number of coupon payments per year (1=annual, 2=semi annual)
N
: number of coupon payments between settlement date and maturity date
RDV
: redemption price or call price per $100 of face value
D
: number of days in coupon period where settlement occurs
B
: number of days from settlement date until next coupon payment date = D – A
INT
: accrued interest
CST
: price including interest
• Less than six months to redemption
PRC =
• Six months or more to redemption
PRC =
INT =
CST = PRC + INT
2-10-1
Bonds
D
A
Issue date
Purchase date
CPN
RDV +
M
B YLD/100
1+ (
D M
RDV
YLD/100
(N–1+B/D )
(1+ )
M
A CPN
D M
B
Redemption date
Coupon Payment dates
A CPN
– ( )
D M
)
CPN
M
N
+
YLD/100
k=1
(1+
M
20010101 20011101
A CPN
–
D M
(K–1+B/D )
)