Bonds – Casio ALGEBRA FX2.0 Financial User Manual
Page 24
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10. Bonds
The bond calculation function calculates the price and yield of a bond.
u
uu
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 =
– (
)
RDV
+
M
CPN
1+ (
×
)
D
B
M
YLD/
100
×
D
A
M
CPN
• Six months or more to redemption
–
×
D
A
M
CPN
PRC =
+
RDV
(1+
)
M
YLD/
100
(1+
)
M
YLD/
100
M
CPN
Σ
N
k=1
(
N
–1+
B/D
)
(
K
–1+
B/D
)
–
×
D
A
M
CPN
INT =
CST = PRC
+
INT
D
Issue date
Redemption date
Purchase date
Coupon Payment dates
A B