Analyze_This

for present value calculation time is important, and here time passes as well, you need to include this into your calculation.
it is like you calculate bond price in t0 then in t1 you are closer to maturity and some coupon(s) was(were) between during the year. And yield to maturity stays the same.
I dont like economic income at all, I think it is stupid calculation.
Sometimes I wonder how these things are used in practice.