债券的收益率计算（Bond yield calculation）.docVIP

债券的收益率计算（Bond yield calculation） Bond yields calculation How many people invest in bonds, the most concern is the bond yields. In order to accurately measure the bond yields, the general use of the bond yield index. Bond yields are the ratio of bond yields and investment principal, usually at an annual rate of said. Bond yields in different bond interest. Bond interest only refers to the product of the coupon rate and the face value of the bonds. But because people in the bond holding period, but also in the bond market to do business, earn a spread, therefore, bond yields in addition to interest income, including the sale price of profit and loss. The main determinants of bond yields, a bond coupon rate, maturity, and value of the purchase price. The formula for the basic rate of bond yields: Bond yields: (due principal and interest and the issue price) / (issue price * repayment period) *100% Due to the bondholders in the bond repayment period may transfer bonds, therefore, bond yields can also be divided into bonds sale returns, buyers of the bond yields and bond yields during paternity. Each of the following formula: The sale of bonds (selling price - benefit rate = issue price + holding period interest) / (price * holding period) *100% Buyers of the bond yields (= the interest due and - buy price (purchase price) / * residual maturity) *100% The bond holding period yields (= sell price - buy price and the holding period (interest) / purchase price * holding period) *100% If a person in January 1, 1995 the price of 102 yuan to buy a value of 100 yuan, the interest rate is 10%, the annual interest payable for the January 1st 1991 issue of the 5 year treasury, and hold to expire in January 1, 1996, then Buyers of the bond yield = (100+100*10%-102) / (102*1) *100% = 7.8% The sale of the bond yield = (102-100+100*10%*4) / (100*4) *100% = 10.5% If someone in January 1, 1993 the price of 120 yuan to buy the factory in denominations of 100 yuan, annual interest rate of