NotesFAQContact Us
Collection
Advanced
Search Tips
Peer reviewed Peer reviewed
Direct linkDirect link
ERIC Number: EJ888533
Record Type: Journal
Publication Date: 2009
Pages: 6
Abstractor: As Provided
Reference Count: 3
ISBN: N/A
ISSN: ISSN-1544-0389
Automating Partial Period Bond Valuation with Excel's Day Counting Functions
Vicknair, David; Spruell, James
Journal of College Teaching & Learning, v6 n4 p15-20 Jul-Aug 2009
An Excel model for calculating the actual price of bonds under a 30 day/month, 360 day/year day counting assumption by nesting the DAYS360 function within the PV function is developed. When programmed into an Excel spreadsheet, the model can accommodate annual and semiannual payment bonds sold on or between interest dates using six fundamental inputs, including the bond's par value, maturity date, annual stated rate of interest, and payment frequency, the annual market rate of interest, and the settlement date. Thus, the model can be applied across the business curriculum in a variety of introductory and more advanced level courses. (Contains 1 table, 1 figure and 12 footnotes.)
Clute Institute. P.O. Box 620760, Littleton, CO 80162. Tel: 303-904-4750; Fax: 303-978-0413; e-mail: Staff@CluteInstitute.com; Web site: http://www.cluteinstitute.com
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A