CALL

 

 

 

 

 

 

 

 

 

 

 

PRICE ＝

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Y N − 1 +

 

DSC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E

 

 

 

 

 

 

 

 

 

1

+

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

M

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CPN%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A

 

CPN%

 

N

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

M

 

 

 

 

 

 

＋

∑

 

 

 

 

 

−

 

⋅

 

 

 

 

 

 

DSC

 

 

 

K =1

 

 

Y K − 1 +

 

 

 

 

E

 

M

 

 

 

E

 

 

 

 

 

 

1

 

+

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

M

 

 

 

 

 

 

 

 

 

 

The “end-of-month” convention is used to determine coupon dates in the following exceptional situations. (This affects calculations for YLD%, PRICE, and ACCRU.)

„If the maturity date falls on the last day of the month, then the coupon payments will also fall on the last day of the month. For example, a semiannual bond that matures on September 30 will have coupon payment dates on March 31 and September 30.

„If the maturity date of a semiannual bond falls on August 29 or 30, then the February coupon payment dates will fall on the last day of February (28, or 29 in leap years).

Depreciation Calculations

For the given year, YR#:

ACRS ＝ ACRS% ⋅ BASIS

100

SL ＝ BASIS − SALV

LIFE

SOYD ＝ BASIS − SALV LIFE ⋅ (LIFE + 1)

2

DB ＝ BASIS ⋅ FACT % /100

LIFE

⋅ (LIFE

− YR # + 1)

 

 

 

(FACT % /100)

(YR # − 1)

⋅

1

−

 

LIFE

 

 

250 B: More About Calculations

File name : English-M02-1-040308(Print).doc Print data : 2004/3/9