Z12730010220165009Modul FINC6006 Chapter 9 Bond Valuation
Z12730010220165009Modul FINC6006 Chapter 9 Bond Valuation
Z12730010220165009Modul FINC6006 Chapter 9 Bond Valuation
Financial Modelling
Laboratory Modul
Modul ini disadur dari Timothy R. Mayes, Todd M. Shank. (2015). Financial Analysis with
Microsoft Excel. 07. CENGA. ISBN: 978-1-285-43227-4
Chp 09
Bond Valuation
BV USING THE PV FUNCTION
Bond Valuation
Value Rp907,99
Bond Valuation
Invoice Price
=PV(Require Return/Frequency,Roundup(Time to maturity,0),-Coupon
Rate*Face Value/Frequency,-face value)*(1+Required
Return/Frequency)^(Roundup(Time To Maturity,0)-Time To Maturity)
Accrued Interest
= (Roundup(Time To Maturity,0)-Time To Maturity)*Coupon Rate*Face
Value/Frequency
Quoted Price
= Invoice Price-Accrued interest
Bond Valuation
Value
= Price (Settlement
Date,MaturityDate,CouponRate,RequiredReturn,Face Value/face
Value*100,Frequency,basis)/100*Face Value
Current Yield
= (Coupon rate*Face Value)/Value
Yield To Maturity
= Yield(settlement Date,MaturityDate,CouponRate,Value,Face
Value/Face Value*100,Frequency,Basis)
Yield Using Rate Function
= Rate(Yearfrac(settlement date,maturitydate,basis)*frequency,coupon
rate*face value/frequency,-value,face value)*Frequency
Yield To Call
= Yield (Settlement date,First call date,Couponrate,value/face
value*100,call price/face value*100,frequency,basis)
Discount Securities
Cara untukmembuatGrafik :
Sensitivity to Yield
Sensitivity To Maturity
5 Vertical : Layout -> axis title, Primary vertical axis tittle, Rotated
tittle
6 Horizontal : Layout -> axis title, Primary horizontal axis tittle, Tittle
below axis
Comparing two bonds
Bond Valuation
Slope 8544,09
High Point 3% *1.420,64
Mid Point 9% *907,99
Low Point 15% *395,35
Bond Valuation
Istilah
Settlement
Maturity
Rate
Yld
Frequency
Basis
Face value
Coupon rate
Yaitu suku bunga yang tertera pada bond tersebut, yaitu yang akan
dibayarkan oleh bond issuer kepada bondholder.
Coupon payment
Maturity date
Yield yang diperoleh pada obligasi yang bisa dibeli kembali (callable).
Obligasi yang callable, berarti bahwa emiten bisa melunasi atau
membeli kembali obligasi yang telah diterbitkannya dari tangan
investor yang memegang obligasi tersebut sebelum dari tangan
investor yang memegang obligasi tersebut, sebelumjatuh tempo.
Mengukur tingkat return yang diharapkan jika obligasi dilunasi (call)
sebelum jatuh tempo.
REFERENCE