package com.imsl.test.example.finance;

import com.imsl.finance.*;
import java.text.*;
import java.util.*;

/**
 * <p>
 * Computes the yield of a bond with an odd long first coupon.
 * </p>
 *
 * This example calculates the yield of an odd long first coupon with the
 * following settings:
 * <center>
 * <table>
 * <tr><td width="150pt">Settlement</td><td>11/11/1992</td></tr>
 * <tr><td>Maturity</td><td>03/01/2005</td></tr>
 * <tr><td>Issue date</td><td>06/15/1992</td></tr>
 * <tr><td>First Coupon</td><td>03/01/1993</td></tr>
 * <tr><td>Rate</td><td>0.0935</td></tr>
 * <tr><td>Price</td><td>112.478106</td></tr>
 * <tr><td>Redemption Value</td><td>100.0</td></tr>
 * <tr><td>Payment Frequency</td><td>Bond.SEMIANNUAL</td></tr>
 * <tr><td>Day Count Basis</td><td>DayCountBasis.BasisActualActual</td></tr>
 * </table>
 * </center>
 *
 * @see <a href="BondYieldEx2.java">Code</a>
 * @see <a href="doc-files/BondYieldEx2.out">Output</a>
 */
public class BondYieldEx2 {

    static final DateFormat dateFormat
            = DateFormat.getDateInstance(DateFormat.SHORT, Locale.US);

    static private GregorianCalendar parse(String s) throws ParseException {
        GregorianCalendar cal = new GregorianCalendar();
        cal.setTime(dateFormat.parse(s));
        return cal;
    }

    public static void main(String args[]) throws ParseException {
        GregorianCalendar settlement = parse("11/11/1992");
        GregorianCalendar maturity = parse("03/01/2005");
        GregorianCalendar issue = parse("06/15/1992");
        GregorianCalendar firstCoupon = parse("03/01/1993");
        double yield = Bond.yield(settlement, maturity, issue, firstCoupon,
                0.0935, 112.478106, 100.0, Bond.SEMIANNUAL,
                DayCountBasis.BasisActualActual);
        System.out.println("The yield is " + yield);
    }
}