1 2 3 4 5 6 7 Spots

n cf PV factor PV 1*4 n^2+n 4*6

1 25 0.9744214373 24.36053593 24.36053593 2 48.72107186 2.6250%
2 25 0.9494971374 23.73742844 47.47485687 6 142.4245706 2.6250%
3 25 0.9252103653 23.13025913 69.3907774 12 277.5631096 2.6250%
4 25 0.901544814 22.53862035 90.1544814 20 450.772407 2.6250%
5 25 0.8784845934 21.96211483 109.8105742 30 658.863445 2.6250%
6 25 0.8560142201 21.4003555 128.402133 42 898.8149311 2.6250%
7 25 0.8341186067 20.85296517 145.9707562 56 1167.766049 2.6250%
8 25 0.8127830516 20.31957629 162.5566103 72 1463.009493 2.6250%
9 25 0.7919932293 19.79983073 178.1984766 90 1781.984766 2.6250%
10 25 0.7717351808 19.29337952 192.9337952 110 2122.271747 2.6250%
11 25 0.7519953041 18.7998826 206.7987086 132 2481.584503 2.6250%
12 1025 0.732760345 751.0793536 9012.952244 156 117168.3792 2.6250%
P0 987.2743021 10369.00395 128662.1553
YTM 10.5000%
1/(1+YTM/m)^2 0.949497137 +/-10bps 992.34150 P-20bps
Macaulay D 2.625664399 978.48008 P+35bps
Modified D 2.558503678
Convexity 7.733688338
-20bps +35bps
Effect Macaulay D 0.52513% -0.91898%
Modified D 0.51170% -0.89548%
Convexity 0.001547% 0.004737%
Combined 0.513247% -0.890739%
0.005132509 -0.008907578