公司理财教学资料chap007.pptVIP

6.* Although the coupon is typically paid in cash, examples exist of firms paying investors with product (e.g., Isle of Arran Distillers discussed in the Real World Tip in the IM). Yield to maturity, required return, and market rate are used interchangeably. * This formalizes the present value calculation. 6.* Remember the sign convention on the calculator. The easy way to remember it with bonds is we pay the PV (-) so that we can receive the PMT (+) and the FV(+). Slide 7.8 discusses why this bond sells at less than par Lecture Tip: You should stress the issue that the coupon rate and the