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Coupon collector's problem. In probability theory, the coupon collector's problem refers to mathematical analysis of "collect all coupons and win" contests. It asks the following question: if each box of a given product (e.g., breakfast cereals) contains a coupon, and there are n different types of coupons, what is the probability that more ...
Canadian Tire Money is denominated in Canadian dollars. It is earned based on the pre-tax amount of a purchase, excluding labour and shop supplies costs. The initial rate earned was 5% of the eligible purchase price, but it was lowered to 3%, then to 1.4% and now is 0.4%. When used to pay for merchandise, CTM is considered to be a cash ...
In finance, a day count convention determines how interest accrues over time for a variety of investments, including bonds, notes, loans, mortgages, medium-term notes, swaps, and forward rate agreements (FRAs). This determines the number of days between two coupon payments, thus calculating the amount transferred on payment dates and also the ...
Duration (finance) In finance, the duration of a financial asset that consists of fixed cash flows, such as a bond, is the weighted average of the times until those fixed cash flows are received. When the price of an asset is considered as a function of yield, duration also measures the price sensitivity to yield, the rate of change of price ...
Par yield. In finance, par yield (or par value yield) is the yield on a fixed income security assuming that its market price is equal to par value (also known as face value or nominal value). Par yield is used to derive the U.S. Treasury’s daily official “Treasury Par Yield Curve Rates”, which are used by investors to price debt ...
Every September since 1998 retailers and shoppers have celebrated National Coupon Month and this year to mark the occasion one of our favorite coupon collectors, Coupon Sherpa, has launched I Love ...
In finance, the dirty price is the price of a bond including any interest that has accrued since issue of the most recent coupon payment. This is to be compared with the clean price, which is the price of a bond excluding the accrued interest . Dirty Price = Clean Price + Accrued Interest. When bond prices are quoted on a Bloomberg Terminal ...
Step 2: Multiply the decimal by 365. Step 3: Divide the result by your repayment period. Step 4: Multiply the result by 100. Here’s an example using the $100,000 loan with a factor rate of 1.5 ...