         VALUE OF A BOND                                                        
                                                                                
THIS PROGRAM SHOWS HOW THE VALUE OF A BOND MAY CHANGE                           
WHEN THE INTEREST RATE CHANGES. WE ASSUME WE HAVE A BOND WITH                   
A FIXED NUMBER OF YEARS TO MATURITY. FOR VARIOUS INTEREST                       
RATES THE PRESENT VALUE OF THE FUTURE CASHFLOWS FROM THE                        
BOND ARE DETERMINED. IT IS VERY INTERESTING TO SEE HOW MUCH                     
THIS VARIES FOR LONG TERM BONDS.                                                
                                                                                
PRESS ENTER TO BEGIN?                                                           
NUMBER OF YEARS TO MATURITY        ? 10                                         
COUPON INTEREST PAYMENT PER YEAR   ? 40                                         
MATURITY VALUE OF THE BOND         ? 1000                                       
LOWEST INTEREST RATE TO CONSIDER(%) ? 1                                         
HIGHEST INTEREST RATE TO CONSIDER(%)? 20                                        
DO YOU DESIRE LINE PRINTER OUTPUT(Y/N)? Y                                       
PRESENT VALUE OF BOND AT VARYING INTEREST RATES                                 
                                                                                
 10 YEARS TO MATURITY.                                                          
COUPON PAYS $ 40  PER YEAR FOR INTEREST.                                        
MATURITY VALUE FOR THE BOND IS 1000                                             
INTEREST RATE       VALUE OF BOND                                               
      1.0                1284.14                                                
      2.9                1094.31                                                
      4.8                 937.62                                                
      6.7                 807.71                                                
      8.6                 699.52                                                
     10.5                 609.04                                                
     12.4                 533.05                                                
     14.3                 468.97                                                
     16.2                 414.71                                                
     18.1                 368.58                                                
                                                                                
PRESS ENTER FOR MORE COMPUTATION? -1                                            
