User Manual

Securities
After-Tax Yield
The following HP-12C program calculate the after tax yield to maturity of a bond
held for more than one year. The calculations assumes an actual/actual day
basis. For after-tax computations, the interest or coupon payments are
considered income, while the difference between the bond or note face value and
its purchase price is considered capital gains.
KEYSTROKES DISPLAY
CLEAR
00-
CLEAR
01- 42 34
7
02- 44 7
03- 33
6
04- 44 6
2
05- 45 2
1
06- 45 1
07- 30
4
08- 45 4
09- 25
2
10- 45 2
11- 34
12- 30
13- 26
2
14- 2
15- 10
0
16- 44 0
3
17- 45 3
5
18- 45 5