Jinsi ya kukokotoa Bond Yield to Maturity

Bond Yield to Maturity ni nini?

Yield to Maturity (YTM) is the internal rate of return on a bond held to maturity. It's the discount rate where the present value of all future cashflows equals the bond's current price.

Fomula

Mwongozo wa Hatua kwa Hatua

1. 1Enter bond price, par value, coupon rate, years to maturity
2. 2Use iterative methods (Newton-Raphson) to solve for YTM
3. 3Result approximates annual return to maturity

Mifano Iliyotatuliwa

Makosa ya Kawaida ya Kuepuka

• ✕Confusing YTM with current yield
• ✕Not assuming reinvestment of coupons