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224 Section 16: Bonds
File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 224 of 275
Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm
REGISTERS
n: Used i: Yield PV: Used PMT: Cpn. or 0
FV: Used
R
0
: # Periods (n) R
1
: Yield R
2
: Coupon
R
3
: Redemption R
4
: Settlement R
5
: Next Cpn. R
6
: Last Coupon
R
7
: Used R
8
–R
.5
: Unused
For annual coupon bonds calculated on a 30/360 day basis, insert
d
after
gÒ
at steps 19 and 23 in the RPN mode program and after
gÒ
at steps
20 and 24 in the ALG mode (making each program two steps longer).
1. Key in the program and press ?É if the C status indicator is not
displayed.
2. Key in the total number of coupons which are received and press ?0.
3. Key in the annual yield as a percentage then press ?1.
4. Key in the amount of the annual coupon then press ?2.
*
5. Key in the redemption value then press ?3.
*
6. Key in the settlement (purchase) date
† then press ?4.
7. Key in the date of the next coupon then press ?5.
8. Press t to obtain the amount of accrued interest.
9. Press t to determine the price of the bond.
10. For a new case, return to step 2.
Example:
What is the price and accrued interest of a 20-year Eurobond with
annual coupons of 6.5% purchased on August 15, 2004 to yield 7%. The next
coupon is received on December 1, 2004.
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
f]
f[
?Æ
?Æ
Set compound interest
mode if the
C
indicator is
not on.
20
?
0 20
?
0
20.00
Total number of coupons.
7
?
1 7
?
1
7.00
Annual yield.
6.5
?
2 6.5
?
2
6.50
Annual coupon rate.
*
Positive for cash received; negative for cash paid out.
†
For information about date format see page 37.