,-ý» Í Z9¤A¨I¨ÎÃÍÌÈËÉZ2¤F1¤ÓÔS¤T¤R¤Y±Y²S±Q¤X¤T±R±ÚÙ@@  2 @ J 4 T2†&2*****************›** BONDVAL2 **›*****************›]]€;@,Š;@,‹;@P,;@,Ž;@,;@,”;@P,•;@P,006•.&  . ++  ÖÁÌÕÅ ÏÆ Á ÂÏÎÄ. -- %THIS PROGRAM SHOWS HOW THE VALUE OF A** "BOND MAY CHANGE WHEN THE INTEREST )) !RATE CHANGES. WE ASSUME WE HAVE A,, $BOND WITH A FIXED NUMBER OF YEARS TO,, $MATURITY. FOR VARIOUS INTEREST RATES ,, $THE PRESENT VALUE OF THE FUTURE CASH#++ #FLOWS FROM THE BOND ARE DETERMINED.%** "IT IS VERY INTERESTING TO SEE HOW (-- %MUCH THIS VARIES FOR LONG TERM BONDS.Z% ! PRESS ÒÅÔÕÒÎ TO BEGIN%€_9@,‚9@,d +nB A4 !NUMBER OF YEARS TO MATURITY :8ƒB BxB A 4 !COUPON INTEREST PAYMENT/YEAR :8„B B‚B A04 !MATURITY VALUE OF THE BOND :8…B BŒP A@4 !LOWEST INTEREST RATE TO CONSIDER 8†F6†-†'AP B–P AP4 !HIGHEST INTEREST RATE TO CONSIDER8‡F6‡-‡'AP BÃCOMPUTING PV›Å6ˆ-ȉ-†‡+‡&†,'@Í6ˆ-ˆ%@ÒE 6‚8ˆ,-‰E68ˆ,-„$+@&+@%‰,#+6ƒ,,'‰%…$+@%‰,#+6ƒ,Ü ‰á/+ "IS LINEPRINTER OUTPUT DESIRED(Y/N)/ŠãŠ0Y*Š0NA%æN +N <ÐÒÅÓÅÎÔ ÖÁÌÕÅ ÏÆ ÂÏÎÄ ÁÔ ÖÁÒÙÉÎÇ ÉÎÔÅÒÅÓÔ ÒÁÔÅÓè? Š4Y?3/PRESENT VALUE OF BOND AT VARYING INTEREST RATESë ð ƒ YEARS TO MATURITY.ú00  COUPON PAYS $„ PER YEAR FOR INTEREST%% MATURITY VALUE FOR BOND IS …++ #-----------------------------------Š4NAp 3ƒ YEARS TO MATURITY ##3 COUPON PAYS $„ PER YEAR $$3MATURITY VALUE OF BOND IS …++6‹.! INTEREST RATE VALUE OF BOND ‹)) ! ------------- ----- -- ----"5 Š4Y3‹53! ------------- ----- -- ----,ˆ-@@6_6Œ-A$‚8ˆ,6-8ˆ,>6Œ-P:A$Œ%?P,'A_6-P:A$%?P,'A@ 6Ž.=:Œ,6.=:,J/ 6.Ž A6Ž.6.) A/6.T6‘-@6’-@0^9 6“-B:Ž,$6”7@<‘&“,.•7‘&“,96”7‘&“%@<‘,.ŽhE 6–-B:,06”7‘%@<’&–,.•7‘%@<’&–,E6”7’&–%@<’,.r ”Š4Y3”| ˆ++ #-----------------------------------ƒ Š4Y33†" PRESS ÒÅÔÕÒÎ FOR MORE"€ Aè 6—-B:,ò˜-@—ü7˜<˜,4.AP ˜%"67—%@<—%@,..00%$—"˜%@$$# 67—%@<—%@,.0#$€ D:BONDVAL2