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 last coupon and multiple
 * periods.</p>
 *
 * This example calculates the yield of an odd long last coupon with multiple
 * coupon periods to redemption.
 * <center>
 * <table>
 * <tr><td width="150pt">Settlement</td><td>02/25/1993</td></tr>
 * <tr><td>Maturity</td><td>09/15/2004</td></tr>
 * <tr><td>Last Coupon</td><td>12/15/2003</td></tr>
 * <tr><td>Rate</td><td>0.06875</td></tr>
 * <tr><td>Price</td><td>85.334452</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.Basis30e360</td></tr>
 * </table>
 * </center>
 *
 * @see <a href="BondYieldEx3.java">Code</a>
 * @see <a href="doc-files/BondYieldEx3.out">Output</a>
 *
 */
public class BondYieldEx3 {

    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("02/25/1993");
        GregorianCalendar maturity = parse("09/15/2004");
        GregorianCalendar lastCoupon = parse("12/15/2003");
        double yield = Bond.yield(settlement, maturity, lastCoupon, 0.06875,
                85.334452, 100.0, Bond.SEMIANNUAL,
                DayCountBasis.Basis30e360);
        System.out.println("The yield is " + yield);
    }
}