According to the simple interest calculation:
1, yield to maturity = 2.60%;
6%+{(100-115)/5}/115 = 2.60% (two decimal places are reserved).
2, the actual rate of return =3.9 1% (annualized);
{100 * 6% * 2+(112-15)}/2/115 = 3.9/kloc-.
Bonds are securities issued by debtors such as governments, enterprises and banks in accordance with legal procedures in order to raise funds and promise creditors to repay the principal and interest on a specified date.
Bond/debenture is a kind of financial contract, which is a debt certificate issued to investors when the government, financial institutions and industrial and commercial enterprises directly borrow money from the society and promise to pay interest at a certain interest rate and repay the principal according to the agreed terms.
The essence of a bond is a certificate of debt, which has legal effect. There is a creditor-debtor relationship between bond buyers or investors and issuers. Bond issuers are debtors and investors (bond buyers) are creditors.
Bond is a valuable security. Because the interest of bonds is usually determined in advance, bonds are a kind of fixed-interest securities. In countries and regions with developed financial markets, bonds can be listed and circulated.
Corporate bonds refer to loan certificates issued by joint-stock companies for additional capital within a certain period of time (such as 10 or 20 years).
For the holder, it is only a voucher to provide loans to the company, reflecting only an ordinary creditor-debtor relationship. Although the holder has no right to participate in the operation and management activities of the joint-stock company, he can charge the company fixed interest at par value every year, and the order of collecting interest should take precedence over shareholders' dividends. When the joint-stock company goes bankrupt, he can also get back the principal first.
Corporate bonds have a long term, generally more than 10 years. Once the bond expires, the joint-stock company must repay the principal and redeem the bond.