From Mr James Lockyer.
Sir, Hans Byström (Letters, October 29) says that the net present value of a bond’s coupon “most likely is close to the net present value of the cost of insuring against the bond defaulting”. Surely not.
COMMENT
How to calculate the net present value of a bond's coupon
Published: October 31 2008 02:00 | Last updated: October 31 2008 02:00
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