Traditional yield measures, Financial Management

Assignment Help:

Current Yield

Current yield is defined as the annual coupon interest received on the market price.

         Current Yield =  1237_current yield.png                

For example, the current market price of a bond is Rs.843 and the coupon interest payment received on it is Rs.70. The Current yield of the bond is:

         Current Yield = 70/ 843 = 0.83, which can also be expressed as 8.3%.

Current yield for a bond selling at par would be equal to the coupon interest rate. Current yield of a bond selling at a premium (discount) would be less (greater) than the coupon interest rate.

An important drawback of current yield is that it considers only coupon income as a source of return to the investor, ignoring interest and capital gains (loss) that would also accrue.

 Yield to Maturity (YTM)

It is the rate of return earned by an investor who purchases a bond and holds it till maturity. YTM is the discount rate which equals the present value of promised cash flows to the current market price/purchase price.


Related Discussions:- Traditional yield measures

Mrs. Edwards, If invested 2500 in a bank that pays 1% annually. How long wi...

If invested 2500 in a bank that pays 1% annually. How long will it take for the funds to double?

Total return for a mortgage-backed and asset-backed security, The ...

The total return in case of mortgage-backed and asset-backed securities depend on the projected principal repayment and the interest earned on r

Explain the significance of financial analysis, Question 1 What are the li...

Question 1 What are the limitations of management accounting? Question 2 Explain the significance of financial analysis Question 3 What are the advantages of the value a

What typ, how would you judge the potential profit of bajaj electronics on ...

how would you judge the potential profit of bajaj electronics on the first year of sales to booth plastics and give your views to increase the profit ?

What is the purpose of the small business administration, 1. Discuss and de...

1. Discuss and describe in your own words the five Cs of credit analysis. 2. Why is it difficult for an entrepreneur to finance a startup with debt? What are the dangers of cre

The standard contribution rate and actuarial liability, Question 1: Giv...

Question 1: Give the formulae for the Standard Contribution Rate (SCR) and Actuarial Liability (AL) for each of the following funding methods: a) Credit Unit Method b)

Graphical depiction using duration to estimate price changes, The price vol...

The price volatility properties of bonds with the help of the graph of the price/yield relationship. Let us now, with the help of a graph, illustrate how duration estim

Account balance - inherent risk, Account balance - Inherent risk At a...

Account balance - Inherent risk At account balance / class of transaction level Balances susceptible to misstatement. History of errors. Complexity of transac

Explain the working of insurance companies, Insurance companies The pri...

Insurance companies The primary purpose of insurance companies is to protect individuals and firms known as policy-holders from adverse events. Insurance companies receive prem

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd