Bond Pricing APR and EAR Annual Percentage Rate

Inputs
Rate Convention: 1=EAR, 0=APR 0
Annual Coupon Rate 4.60%
Yield to Maturity (Annualized) 8.10%
Number of Payments/Year 2
Number of Periods to Maturity (T) 10
Face Value $1,000

Outputs
Discount Rate Period 4.05%
Coupon Payment $23

Calculate Bond Ping the Cash Flows

Period 0 1 2 3 4 5
Time (Years) 0 0.5 1 1.5 2 2.5
Cash Flows $23.00 $23.00 $23.00 $23.00 $23.00
Present Value of Cash Flows $22.10 $21.24 $20.42 $19.62 $18.86
Bond Price $882.42

Calculate Bond Pricing Using the Formula

Bond Price $858.41

Calculate Bond Pricing Using the PV Function

Bond Price $858.41

Calculate Bond Pricing Using the Price Function (under APR)

Bond Price 858.41
al Percentage Rate

6 7 8
3 3.5 4
$23.00 $23.00 $1,023.00
$18.12 $17.42 $744.63
Bond Pricing APR and EAR Effective Annual Rate
Inputs
Rate Convention: 1=EAR, 0=APR 1
Annual Coupon Rate 4.60%
Yield to Maturity (Annualized) 8.10%
Number of Payments/Year 2
Number of Periods to Maturity (T) 10
Face Value $1,000

Outputs
Discount Rate Period 3.97%
Coupon Payment $23

Calculate Bond Ping the Cash Flows

Period 0 1 2 3 4 5
Time (Years) 0 0.5 1 1.5 2 2.5
Cash Flows $23.00 $23.00 $23.00 $23.00 $23.00
Present Value of Cash Flows $22.10 $21.24 $20.42 $19.62 $18.86
Bond Price $882.42

Calculate Bond Pricing Using the Formula

Bond Price $858.41

Calculate Bond Pricing Using the PV Function

Bond Price $858.41

Calculate Bond Pricing Using the Price Function (under APR)

Bond Price
ve Annual Rate

6 7 8
3 3.5 4
$23.00 $23.00 $1,023.00
$18.12 $17.42 $744.63