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a - Future Value of the coupons reinvested at 9,4%

Annuity Rate n 4.5 4.70% 10 periods FV b- Price After Five years Face value Coupon rate n m 100 9% 5 2 55.81

Il ne reste que 4 coupon plus la face value à comptabiliser l'enoncé ne donne pas le discount rate?, j'ai utilisé 9%

pv of annuities Present Value / Principal i = annual rate of interest r/2 Compounding period n = number of compounding periods nm Futire Value ? Par*r/2

4.50% 1 4 4.5

1+i/m

1.05

PV OF FACE VALUE Present Value / Principal i = annual rate of interest Compounding period n = number of compounding periods Futire Value ?

4.50% 1 4 100

1+i/m 104.50% nm (1+i/m) 1.19 PV FV (1+i/m)

PV of a Bond100.00 C- return Return over whole period FV/PV-1 55.81%

Return per compounding Period (1+S)nm = 1+Return S 9.28%

19 4.14 1.94 3.77 16.31 4.31 4.76 38. j'ai utilisé 9% Y1 Y2 Y3 Y4 4.a face value à comptabiliser unt rate?.12 3.14 41.23 1.09 1.00 83.05 1.94 3.86 100.12 3.77 83.86 .35 39.