HP HP12C hp 12c_user's guide_English_E_HDPMBF12E44.pdf - Page 188
Securities Industry Association, New York, 1973.
UPC - 882780792104
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188 Appendix D: Formulas Used Bonds Reference: Spence, Graudenz, and Lynch, Standard Securities Calculation Methods, Securities Industry Association, New York, 1973. DIM = days between issue date and maturity date. DSM = days between settlement date and maturity date. DCS = days between beginning of current coupon period and settlement date. E = number of days in coupon period where settlement occurs. DSC = E - DCS = days from settlement date to next 6-month coupon date. N = number of semiannual coupons payable between settlement date and maturity date. CPN = annual coupon rate (as a percentage). YIELD = annual yield (as a percentage). PRICE = dollar price per $100 par value. RDV = redemption value. For semiannual coupon with 6 months or less to maturity: PRICE = 101000+(R(DDSEVM+×CYP2INE2LD) ) − ⎡DCS ⎢⎣ E × CPN 2 ⎤ ⎥⎦ For semiannual coupon with more than 6 months to maturity: ⎡ ⎤ ⎢ ⎥ PRICE = ⎢ ⎢ ⎢ ⎢⎣ ⎜⎛1+ ⎝ RDV YIELD 200 ⎟⎞ ⎠ N −1+ DSC E ⎡ ⎤ ⎢ CPN ⎥ + ⎢N ⎢∑ ⎢K ⎢ =1⎜⎛1+ ⎢⎣ ⎝ 2 YIELD 200 ⎟⎞K ⎠ −1+ DSC E − ⎡CPN ⎢⎣ 2 × DCS ⎤ E ⎥⎦ File name: hp 12c_user's guide_English_HDPMBF12E44 Printered Date: 2005/7/29 Page: 188 of 209 Dimension: 14.8 cm x 21 cm