How do I calculate the yield of a security with an odd first AND last period.

There are add-ins for Excel that will calculate all sorts of investment
yields. Try a Google or MSN search,

Or

You can do it yourself in Excel, but you'll need to carefully schedule the
coupons and day counts, then do a present value - using the correct day count
convention of course - and then use Goal Seek to find the yield (discount
rate) that sets the present value equal to the cost of the investment.


"Securities Auditor" wrote:

How do I calculate the yield of a security with an odd first AND last period.