Functions and CALL Routines 
Returns the convexity for a periodic cash flow stream, such as
a bond.

A

specifies the par value.
Range: 


c

specifies the nominal perperiod coupon
rate, expressed as a fraction.
Range: 


n

specifies the number of coupons per period.
Range: 
and is an integer 

K

specifies the number of remaining coupons.
Range: 
and is an integer 

k_{0}

specifies the time from the present date
to the first coupon date, expressed in terms of the number of periods.
Range: 


y

specifies the nominal perperiod yieldtomaturity,
expressed as a fraction.
Range: 

The CONVXP function returns the value
where
and where
In the following example, the CONVXP function returns
the convexity 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 annual yieldtomaturity is 0.08.
data _null_;
y=convxp(1000,.01,4,14,.33/2,.08);
put y;
run;
The value that is returned is 11.729001987.
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