Chapter5ValuationandCharacteristicsofBonds课程.pptVIP

P/YR 1Mode endN 20I%YR 14PMT 120 FV 1000 Solve PV -$867.54Note: If the coupon rate discount rate, the bond will sell for a discount. Bond Example Mathematical Solution: PV PMT PVIFA k, n + FV PVIF k, n PV 120 PVIFA .14, 20 + 1000 PVIF .14, 20 Bond Example Mathematical Solution: PV PMT PVIFA k, n + FV PVIF k, n PV 120 PVIFA .14, 20 + 1000 PVIF .14, 201 PV PMT1 - 1 + in + FV / 1 + ini Bond Example Mathematical Solution: PV PMT PVIFA k, n + FV PVIF k, n PV 120 PVIFA .14, 20 + 1000 PVIF .14, 201 PV PMT1 - 1 + in + FV / 1 + ini1 PV120 1