accuracy = positive -- This option specifies the desired accuracy of the result. The default value is 1e-9.

evaluationdate = a string containing a date specification in a format recognized by ParseDate or a Date data structure -- This option specifies the evaluation date. By default this is set to the global evaluation date (see EvaluationDate).

iterations = posint -- This option specifies the maximum number of iterations. The default value is 100000.

The YieldFromCleanPrice command calculates a bond's yield based on the specified clean price.

The parameter bond can be either a fixed-rate bond or a floating-rate bond.

The parameter price is the desired clean price.

The (optional) parameter compounding specifies what type of compounding will be used to calculate the yield. By default, Continuous compounding is assumed.

$\mathrm{with}\left(\mathrm{Finance}\right)\:$

$\mathrm{SetEvaluationDate}\left(''November\; 25,\; 2006''\right)\:$

$\mathrm{EvaluationDate}\left(\right)$

$''November\; 25,\; 2006''$

$\mathrm{Settings}\left(\left[\mathrm{daycounter}=\mathrm{Historical}\,\mathrm{settlementdays}=0\,\mathrm{businessdayconvention}=\mathrm{Unadjusted}\right]\right)$

$\left[\mathrm{daycounter}=\mathrm{Historical}\,\mathrm{settlementdays}=0\,\mathrm{businessdayconvention}=\mathrm{Unadjusted}\right]$

$\mathrm{bond1}≔\mathrm{ZeroCouponBond}\left(100\,5\,\mathrm{Years}\right)\:$

$\mathrm{price1}≔\mathrm{CleanPrice}\left(\mathrm{bond1}\,0.05\,\mathrm{Compounded}\right)$

$\mathrm{price1}≔78.35261665$

$100\mathrm{DiscountFactor}\left(0.05\,5\,\mathrm{compounding}=\mathrm{Annual}\right)$

$78.35261665$

$100{\left(\frac{1}{1.05}\right)}^5$

$78.35261665$

$\mathrm{yield1}≔\mathrm{YieldFromCleanPrice}\left(\mathrm{bond1}\,\mathrm{price1}\right)$

$\mathrm{yield1}≔0.04879016417$

$\mathrm{EquivalentRate}\left(\mathrm{yield1}\,\mathrm{Continuous}\,\mathrm{Annual}\right)$

$0.05000000000$

$\mathrm{yield1}≔\mathrm{YieldFromCleanPrice}\left(\mathrm{bond1}\,\mathrm{price1}\,\mathrm{Compounded}\right)$

$\mathrm{yield1}≔0.05000000006$

$\mathrm{principal2}≔100\:$

$\mathrm{coupon2}≔0.03\:$

$\mathrm{rate2}≔0.05\:$

$\mathrm{Settings}\left(\mathrm{daycounter}=\mathrm{Thirty360European}\right)\:$

$\mathrm{Settings}\left(\mathrm{daycounter}\right)$

$\mathrm{Thirty360European}$

$\mathrm{bond2}≔\mathrm{FixedCouponBond}\left(\mathrm{principal2}\,3\,\mathrm{Years}\,\mathrm{coupon2}\,\mathrm{issuedate}=''March\; 17,\; 2005''\right)\:$

$\mathrm{yield2}≔\mathrm{YieldFromCleanPrice}\left(\mathrm{bond2}\,100\,\mathrm{Compounded}\right)$

$\mathrm{yield2}≔0.02992505925$

$\mathrm{price2}≔\mathrm{CleanPrice}\left(\mathrm{bond2}\,\mathrm{yield2}\,\mathrm{Compounded}\right)$

$\mathrm{price2}≔100.0000000$

$\mathrm{yield3}≔\mathrm{YieldFromCleanPrice}\left(\mathrm{bond2}\,\mathrm{price2}\right)$

$\mathrm{yield3}≔0.02948604163$

$\mathrm{CleanPrice}\left(\mathrm{bond2}\,\mathrm{yield3}\right)$

$99.99999999$

The Finance[YieldFromCleanPrice] command was introduced in Maple 15.

For more information on Maple 15 changes, see Updates in Maple 15.