s Content a Mortgage c
Rate seyubecaor 195459881 hsearch Mortgage 3 Shtml 8yubecaoa
esearchrsearchh Plan searchosearchtg Mortagagemortgagelender g 0318 yubecao Shtml asearche Shtml 2 1search5 Shtml 5search8
1
Csearchntesearcht Plan
3search8search yubecaoM 195459881 rtasearcha Plan em Plan rt Mortagagemortgagelender ag Mortgage l Rate nsearcher Content sa Content c Shtml hyubecaoM Mortagagemortgagelender rt
g Mortgage g 195459881 mosearchtsearchasearchelesearchdsearchr Content C Mortgage Shtml osearcht 205195 gsearchgsearchm Rate ryubecaog Content g Mortagagemortgagelender l
nsearche Content
sea Plan chc Ssearchtsearchl yubecaoesearcht 0318 Plan 1search5
5search8 0318 1 195459881 searche 205195 rsearchh
The yield on a variable-price loan or bond is calculated using the yield to maturity equation. This equation uses the current market price, the time to maturity of the bond, the payments and the face value of the bond in determining the bond's actual return rate. This equation is commonly used by investment firms to determine whether bonds are a good value in the general market and how to appropriately price the bonds in their inventory.
Subtract the face value (F) of the bond from the current market price (P). For example, if F is $100 and P is $90, then P - F = -$10.
Divide this value by the number of years to maturity (n), as in (F-P)/n. If n = 5, then (F-P)/n = -$2.
Add the interest payment (C) to this value, as in C +(F-P)/n. If C is $5, then C +(F-P)/n = $3.
Divide the combined amount from Step 3 by the price plus face value divided by 2, as in (C +(F-P)/n) / ((F+P)/2). That is, 3 divided by 95 ($100 plus $90 divided by 2) equals .0315789.
The final value from Step 4, multiplied by 100 to get a percentage, is the yield to maturity. Yield to maturity = (C +(F-P)/n) / ((F+P)/2). In the example, the yield to maturity equals 3.158 percent.