Price vs YTM

160

140

120

100
Price

80

60

40

20

0
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00%

YTM
 Chart Title
120

115

110

105

100
12/20/1994 5/3/1996 9/15/1997 1/28/1999 6/11/2000 10/24/2001 3/8/2003 7/20/2004

95

90

85

80

Price (Premium) Price (Discount)

Maturity 10
Coupon 4.75%
FV 100
YTM 4.62%
Price ₹ 101.00 =-PV(B4/2,B1*2,B2*B3/2,B3)

Settlement 12/20/1994 Settlement 12/20/1994

Maturity 12/20/2004 Maturity 12/20/2004
Coupon 4.75% Coupon 4.75%
FV 100 FV 100
YTM 3.00% YTM 4.62%
Price 115.022559 Price 101

Settlement 12/20/1994
Maturity 12/20/2004
Coupon 4.75%
FV 100
YTM 1.00% 2% 3.00% 4% 5.00% 6% 7.00% 8%
Price 135.601411 124.812635 115.0226 106.131788 98.05135 90.70158 84.01105 77.91572
=PRICE($B$15,$B$16,$B$17,B19,$B$18,2)
Price ch(rise) -7.96% -7.84% -7.73% -7.61% -7.50% -7.38% -7.26%
Price Ch(fall) 8.64% 8.51% 8.38% 8.24% 8.10% 7.96% 7.82% 7.68%

Settlement 12/20/1994 6/20/1995 ### 6/20/1996 ### ### ### ###

Maturity 12/20/2004
Coupon 4.75%
FV 100
YTM 3.00%
YTM 6.50%
Price (Premium) 115.022559 114.372897 113.7135 113.044193 112.3649 111.6753 110.9755 110.2651
Price (Discount) 87.2780721 87.7396095 88.21615 88.7081715 89.21619 89.74071 90.28229 90.84146
Case exercise
A
Settlement 12/20/1994
Maturity 12/20/1999
Coupon 9.00%
FV 100
YTM 8.00%
Price 1040.55448
B
Settlement 12/20/1994
Maturity 12/20/2004
Coupon 8.00%
FV 100
YTM 8.00%
Price 1000
C
Settlement 12/20/1994
Maturity 12/20/2004
Coupon 0.00%
FV 100
YTM 8.00%
Price 456.386946
 9.00% 10% 11.00% 12% 13.00% 14% 15.00%
72.35814 67.2867 62.65505 58.42154 54.54866 51.00268 47.75323

-7.13% -7.01% -6.88% -6.76% -6.63% -6.50% -6.37%

7.54% 7.39% 7.25% 7.10% 6.95%

### ### ### ### ### ### ### ### 12/20/2002 ###

109.5441 108.8122 108.0694 107.3155 106.5502 105.7734 104.985 104.1848 103.372587 102.5482
91.41881 92.01492 92.6304 93.26589 93.92203 94.5995 95.29898 96.0212 96.7668898 97.53681
 ### ### 12/19/2004

101.7114 100.8621 100.004727

98.33176 99.15254 99.9950057