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usmb_pip

usmb_pip (routine)

Calculate current full periods interest for a US municipal bond starting on the coupon date

Introduced in release: 1.2
Component: US Bonds
Purpose: Calculate current full periods interest for a US municipal bond (a regular bond, odd first coupon bond, odd last coupon bond, and odd first and last coupon bond). Specifically it calculates the amount of interest earned for the full period in which the settlement date falls

Special Considerations: In this routine the current period starts on the day prior coupon payment date and excludes the next coupon payment date. If you need to exclude the prior coupon date and include the next coupon date see usmb_fpi.

Notes: The maturity date used by this routine can be a maturity/redemption date.

Results: The result is returned as a dollar and cents amount scaled by the quantity and 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.

Last Mod Date: 12/14/1995© 2001 TIPS, Inc.Doc Version: 5.0