HP 12c financial calculator 사용자 설명서
188 Appendix D: Formulas Used
File name: hp 12c_user's guide_English_HDPMBF12E44
Page: 188 of 209
Printered Date: 2005/7/29
Dimension: 14.8 cm x 21 cm
Bonds
Reference:
Spence, Graudenz, and Lynch, Standard Securities Calculation Methods,
Securities Industry Association, New York, 1973.
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:
⎥⎦
⎤
⎢⎣
⎡
×
−
⎥
⎥
⎥
⎥
⎦
⎤
⎢
⎢
⎢
⎢
⎣
⎡
×
+
+
=
2
)
2
(
100
)
2
(
100
CPN
E
DCS
YIELD
E
DSM
CPN
RDV
PRICE
For semiannual coupon with more than 6 months to maturity:
⎥⎦
⎤
⎢⎣
⎡
×
−
⎥
⎥
⎥
⎥
⎥
⎥
⎦
⎤
⎢
⎢
⎢
⎢
⎢
⎢
⎣
⎡
⎟
⎠
⎞
⎜
⎝
⎛ +
+
⎥
⎥
⎥
⎥
⎥
⎦
⎤
⎢
⎢
⎢
⎢
⎢
⎣
⎡
⎟
⎠
⎞
⎜
⎝
⎛ +
=
∑
=
+
−
+
−
E
DCS
CPN
YIELD
CPN
YIELD
RDV
PRICE
N
K
E
DSC
K
E
DSC
N
2
200
1
2
200
1
1
1
1