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- 2011-7-11
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The first formula you have given is the present value of the bond redemption exclusive of any coupon payments between T=0 and maturity date. It doesn't make sense to value a bond exclusive of any future coupon payments.
The price or value of any asset should theoretically be the present value of all of the assets future cash flows. Therefore coupons should be included in the calculation. |
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发表于 2011-7-11 17:44
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