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7-15
• For more than one coupon period to redemption
S Annual Yield (YLD)
YLD is calculated using Newton’s Method.
Press (BOND) from the Financial 2 screen to display the following input screen for Bond
calculation.
(E)(BOND)
d1.......... purchase date (month, date, year)
d2.......... redemption date (month, date, year)
RDV...... redemption price per $100 of face value
CPN...... coupon rate
PRC ...... price per $100 of face value
YLD ...... annual yield
After configuring the parameters, use one of the function menus noted below to perform the
corresponding calculation.
• {PRC} … {Calculate the bond’s price (PRC), accrued interest (INT), and cost of bond (CST)}
• {YLD} … {Calculate the yield to maturity}
Calculation Result Output Examples
{PRC} {PRC} − {GRPH} {PRC} − {MEMO}
An error (Ma ERROR) occurs if parameters are not configured correctly.
Use the following function menu to maneuver between calculation result screens.
• {REPT} … {parameter input screen}
• {GRPH} … {draws graph}
• {MEMO} … {displays numbers of days used in calculations}
s
D
A
0
CPN
,17 – &67 35&+ ,17
+
s
D
A
0
CP
N
PRC = ––
RDV
(1+ )
0
YLD/100
(1+ )
0
YLD/100
0
CPN
3
N
k=1
(N–1+B/D )(k–1+B/D )
s
D
A
0
CPN
,17 – &67 35&+ ,17
+
s
D
A
0
CP
N
PRC = ––
RDV
(1+ )
0
YLD/100
(1+ )
0
YLD/100
0
CPN
3
N
k=1
(N–1+B/D )(k–1+B/D )