20060301
Bond Interval Setting: Term
u
Annual Yield (YLD)
YLD is calculated using Newton’s Method.
Note
• The Financial application performs annual yield (YLD) calculations using Newton’s Method,
which produces approximate values whose precision can be affected by various calculation
conditions. Because of this, annual yield calculation results produced by this application
should be used keeping the above in mind, or results should be confirmed separately.
PRC = – –
RDV
M
CPN
(1+ )
M
YLD/100
n
(1+ )
M
YLD/100
k
INT
= 0
CST
= PRC
Σ
n
k
=1
15-10-5
Bond Calculation
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