Les caractéristiques de l’obligation

Étude de cas : Les caractéristiques de l’obligation. Recherche parmi 300 000+ dissertations

Par Hilroy • 9 Novembre 2021 • Étude de cas • 1 294 Mots (6 Pages) • 304 Vues

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PARTIE A

Obligation choisit: Bombardier

Les caractéristiques de l’obligation :

[pic 1]

Calcul du taux de rendement :

PV = PMT + PMT + […]+ (PMT+FV[pic 2][pic 3][pic 4]

(1+r)1 (1+r)2 (1+r)N

99,81=3,6750 + 3,6750 +[…]+ (100+3,6750)[pic 5][pic 6][pic 7]

(1+r)1 (1+r)2 (1+r)60

r = 3,6829

Calcul de l’intérêt couru :

Décembre : 10 jours, Janvier : 31 jours, Février: 28 jours

t = 69 jours , T = 180 jours

PMT = $ 100 x 0.0735/2 = $ 3.6750

AI = t/T x PMT = 0.3833 x 3.6750

AI = $ 1.4088

Calcul du prix payé :

Prix côté = $ 101,63 AI = $ 1.4088

Prix payé = $ 103.0388

Calcul de la durée de Macaulay :[pic 8]

MacDur = 1+r - 1+r +[N*(c-r) _(t/T)[pic 9][pic 10][pic 11]

R c* (1+r)N -1 +r[pic 12]

= 1+0,036829 – 1+0,036829+[60*(0,036750 - 0,036829)] _ (69)[pic 13][pic 14][pic 15]

0,036829 0,036750*[(1+0,036829)60 –1]+0,036829 180

= 28,1525 – 1,032089 _ 0,383333[pic 16][pic 17]

0,321952

= 24,9468-0,383333

= 24,563467

Période	Cash Flow	valeur présente	poids	période*poids
1	3.675	3.544461044	0.03551209	0.035512088
2	3.675	3.418558937	0.03425067	0.068501341
3	3.675	3.297128974	0.03303406	0.099102177
4	3.675	3.180012301	0.03186066	0.127442651
5	3.675	3.067055706	0.03072895	0.153644731
6	3.675	2.958111421	0.02963743	0.177824576
7	3.675	2.853036924	0.02858468	0.200092788
8	3.675	2.751694758	0.02756933	0.220554665
9	3.675	2.653952347	0.02659005	0.239310434
10	3.675	2.559681825	0.02564555	0.256455483
11	3.675	2.468759868	0.0247346	0.272080576
12	3.675	2.381067532	0.02385601	0.28627206
13	3.675	2.296490098	0.02300862	0.299112067
14	3.675	2.214916922	0.02219134	0.310678701
15	3.675	2.136241292	0.02140308	0.321046226
16	3.675	2.060360283	0.02064283	0.330285233
17	3.675	1.987174629	0.01990958	0.338462813
18	3.675	1.916588588	0.01920237	0.345642714
19	3.675	1.848509819	0.01852029	0.351885496
20	3.675	1.782849264	0.01786243	0.357248674
21	3.675	1.719521024	0.01722795	0.36178686
22	3.675	1.658442254	0.016616	0.365551895
23	3.675	1.599533052	0.01602578	0.368592979
24	3.675	1.542716351	0.01545653	0.370956793
25	3.675	1.487917825	0.0149075	0.372687614
26	3.675	1.435065788	0.01437798	0.373827428
27	3.675	1.384091097	0.01386726	0.374416038
28	3.675	1.334927068	0.01337468	0.374491164
29	3.675	1.287509384	0.0128996	0.374088541
30	3.675	1.241776016	0.0124414	0.373242016
31	3.675	1.197667133	0.01199947	0.371983631
32	3.675	1.155125033	0.01157324	0.370343714
33	3.675	1.114094063	0.01116215	0.368350958
34	3.675	1.074520546	0.01076566	0.366032497
35	3.675	1.036352712	0.01038326	0.363413986
36	3.675	0.99954063	0.01001444	0.360519664
37	3.675	0.964036143	0.00965871	0.357372429
38	3.675	0.929792803	0.00931563	0.353993902
39	3.675	0.896765815	0.00898473	0.350404485
40	3.675	0.864911972	0.00866559	0.346623421
41	3.675	0.834189603	0.00835778	0.342668855
42	3.675	0.804558518	0.0080609	0.338557884
43	3.675	0.775979952	0.00777457	0.334306608
44	3.675	0.74841652	0.00749841	0.329930181
45	3.675	0.721832163	0.00723206	0.32544286
46	3.675	0.696192104	0.00697517	0.320858042
47	3.675	0.671462801	0.00672741	0.316188318
48	3.675	0.647611902	0.00648845	0.311445502
49	3.675	0.624608206	0.00625797	0.306640681
50	3.675	0.602421621	0.00603568	0.301784242
51	3.675	0.58102312	0.00582129	0.296885915
52	3.675	0.560384711	0.00561452	0.291954804
53	3.675	0.540479396	0.00541508	0.286999418
54	3.675	0.521281133	0.00522274	0.282027703
55	3.675	0.502764808	0.00503722	0.277047072
56	3.675	0.484906198	0.00485829	0.27206443
57	3.675	0.467681939	0.00468572	0.267086206
58	3.675	0.451069501	0.00451928	0.262118371
59	3.675	0.435047149	0.00435875	0.25716647
60	103.675	11.83711568	0.11859651	7.115790389
		99.80998627	1	24.94679946

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