Calculate the present value of a uniform series of coupon payments
Introduced in release: 1.0 Component: Business Calculator Purpose:
Calculates the present value of a uniform series of coupon payments for a regular bond given the yield, compounding frequency, coupon frequency, and the number of periods.
Notes:
This routine works for both integer and non-integer compounding periods. The interest rate is specified as an annual rate and is internally converted to a per period rate.
Results:
The calculated present value is returned accurate to as many places as supported by a double precision value.
Error Conditions:
Returned values should be ignored for a non-zero status. See Errors.
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