Bond Valuation

Time to Maturity (Years) 8

Coupon Rate 4.50%
Required Return 5.75%
Frequency 2
Face Value $ 1,000

Value $920.74
 Bond Valuation
Time to Maturity (Years) 8
Coupon Rate 4.50%
Required Return 5.75%
Frequency 2
Face Value $ 1,000

Value $920.74
Current Yield 4.89%
 Bond Valuation
Settlement Date 2/15/2009
Maturity Date 2/15/2017
Coupon Rate 4.50%
Required Return 5.75%
Face Value 1,000
Frequency 2
Basis 0

Value $920.74
Current Yield 4.89%
Yield to Maturity 5.75%
 Bond Valuation
Settlement Date 2/15/2009
Maturity Date 2/15/2017
Coupon Rate 4.50%
Required Return 5.75%
Face Value 1,000
Frequency 2
Basis 0

Value $920.74
Current Yield 4.89%
Yield to Maturity 5.75%
 Bond Valuation
Time to Maturity 2/15/2009
Maturity Date 2/15/2017
Coupon Rate 4.50%
Required Return 5.75%
Redemption Value 1,000
Call Price 1,040
Frequency 2
Basis 0
Value $920.74
Return Measures
Current Yield 4.89%
Yield to Maturity 5.75%
Yield To Call 6.16%
 Bond Valuation
Settlement Date 7/30/2014
Maturity Date 7/30/2019
First Call Date 7/30/2014
Coupon Rate 4.50%
Required Return 5.75%
Redemption Value 1,000
Call Price 1,040
Frequency 2
Basis 0
Value $ 946.34
Return Measures
Current Yield 4.76%
Yield to Maturity 5.75%
Yield To Call 6.46%
Theory:
An interest rate is the cost of borrowing money. Or, on the other side of the coin, it is the compensation for the service and risk
pensation for the service and risk of lending money. In both cases it keeps the economy moving by encouraging people to borrow, to lend, a
ging people to borrow, to lend, and to spend!!!
 Bond Valuation
Settlement Date 7/30/2014
Maturity Date 7/30/2019
First Call Date 7/30/2014
Coupon Rate 4.50%
Required Return 5.75%
Redemption Value 1,000
Call Price 1,040
Frequency 2
Basis 0
Value $ 946.34
Return Measures
Current Yield 4.76%
Yield to Maturity 5.75%
Yield To Call 6.46%

Sensitivity to Req. return

Req. Return Bond Value Change
1% 1,170.28 223.94 Bond Value vs Yield
2% 1,118.39 172.05 1,200.00
3% 1,069.17 122.82
4% 1,022.46 76.11 1,000.00

5% 978.12 31.78
800.00
5.75% 946.34 -
6% 936.02 (10.32) 600.00
7% 896.04 (50.30)
8% 858.06 (88.29) 400.00
9% 821.96 (124.38)
10% 787.65 (158.69) 200.00

11% 755.03 (191.32)

-
12% 724.00 (222.35) 0% 5% 10
13% 694.47 (251.87)
14% 666.38 (279.96)
15% 639.64 (306.71)
Bond Value vs Yield

5% 10% 15%