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.
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
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.