Returns the yield-to-maturity for a periodic cash flow stream, such as a bond.

Category: | Financial |

specifies the face value.

Range | $A>0$ |

specifies the nominal annual coupon rate, expressed as a fraction.

Range | $0\le c<1$ |

specifies the number of coupons per year.

Range | $n>0$ and is an integer |

specifies the number of remaining coupons from settlement date to maturity.

Range | $K>0$ and is an integer |

specifies the time from settlement date to the next coupon as a fraction of the annual basis.

Range | $0<{k}_{0}\le \frac{1}{n}$ |

specifies the price with accrued interest.

Range | $p>0$ |

In the following example,
the YIELDP function returns the yield-to-maturity of a bond that has
a face value of 1000, an annual coupon rate of 0.01, 4 coupons per
year, and 14 remaining coupons. The time from settlement date to next
coupon date is 0.165, and the price with accrued interest is 800.

data _null_; y=yieldp(1000,.01,4,14,.165,800); put y; run;The value returned is 0.0775031248.

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