Formula 7 from the SSCM, Standard Securities Calculation Methods.

Price (given yield) with more than one coupon period to redemption.

This is the base function used for the price() function used for bond calculations. GIven the dates, frequency and date bases, the price function will calculate the inputs to the pricef7() function.

Formula: pricef7(a, dsc, e, m, n, r, rv, y)

The description and examples are contained in the Standard Securities Calculation Methods.

Test case:

A = 70.0000

DSC = 110.0000

E = 180.0000

M = 2.0000

N = 24.0000

R = 0.05875

RV = 100.0000

Y = 0.0646

Calculating For: P

Result = 95.2083

Reference:

Standard Securities Calculation Methods: Fixed Income Securities Formulas for Price, Yield and Accrued Interest Volume 1 (3rd ed.), SIFMA, ISBN 1-882936-02-7. The standard reference for conventions applicable to US securities.