金融市场与金融机构（原书第9版）教学课件Mishkin_fmi09_ppt_03.pptxVIP

Financial Markets and Institutions;Chapter Preview (1 of 3);Chapter Preview (2 of 3);Chapter Preview (3 of 3);Present Value Introduction;Present Value;Present Value Applications;Present Value Concept: Simple Loan Terms;Present Value Concept: Simple Loan (1 of 2);Present Value Concept: Simple Loan (2 of 2);Yield to Maturity: Loans (1 of 2);Example 3.1 Simple Present Value;Present Value Concept: Fixed-Payment Loan Terms (1 of 2);Present Value Concept: Fixed-Payment Loan Terms (2 of 2);Yield to Maturity: Loans (2 of 2);Yield to Maturity: Bonds (1 of 2);Yield to Maturity: Bonds (2 of 2);Table 3.1 Yields to Maturity on a 10% Coupon Rate Bond Maturing in 10 Years (Face Value = $1,000);Relationship Between Price and Yield to Maturity;Current Yield;Yield on a Discount Basis;Global: Negative T-Bill Rates? It Can Happen (1 of 2);Global: Negative T-Bill Rates? It Can Happen (2 of 2);Distinction Between Real and Nominal Interest Rates (1 of 3);Distinction Between Real and Nominal Interest Rates (2 of 3);Distinction Between Real and Nominal Interest Rates (3 of 3);Figure 3.1 Real and Nominal Interest Rates (Three-Month Treasury Bill), 1953–2016;Distinction Between Interest Rates and Returns;Table 3.2 One-Year Returns on Different-Maturity 10% Coupon Rate Bonds When Interest Rates Rise from 10% to 20%;Maturity and the Volatility of Bond Returns (1 of 3);Maturity and the Volatility of Bond Returns (2 of 3);Maturity and the Volatility of Bond Returns (3 of 3);Reinvestment Risk;Table 3.3 Calculating Duration on a $1,000 Ten-Year 10% Coupon Bond When Its Interest Rate Is 10%;Table 3.4 Calculating Duration on a $1,000 Ten-Year 10% Coupon Bond When Its Interest Rate Is 20%;Formula for Duration (1 of 2);Formula for Duration (2 of 2);Duration and Interest-Rate Risk (1 of 3);Duration and Interest-Rate Risk (2 of 3);Duration and Interest-Rate Risk (3 of 3);Chapter Summary (1 of 2);Chapter Summary (2 of 2);Copyright