Appendix 3: On the Calculation of Polynomial Roots

Michael Osborne

A chapter in Multiple Interest Rate Analysis: Theory and Applications, 2014, pp 124-126 from Palgrave Macmillan

Abstract: Abstract In the text it is noted that a 30-year bond with semi-annual payments, e.g. a US Treasury bond, has 60 coupon payments. It follows that, on the day of issue, the polynomial employed to evaluate the bond has 60 solutions for the yield to maturity.

Date: 2014
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DOI: 10.1057/9781137372772_11

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