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- created an abstract class for bond instances
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,135 @@ | ||
| <?php | ||
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| namespace FinanCalc\Calculators { | ||
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| use FinanCalc\Calculators\BondYTMCalculator\BondInstance; | ||
| use FinanCalc\Interfaces\CalculatorInterface; | ||
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| /** | ||
| * Class BondYTMCalculator | ||
| * @package FinanCalc\Calculators | ||
| */ | ||
| class BondYTMCalculator implements CalculatorInterface { | ||
| private $bondInstance; | ||
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| /** | ||
| * @param $bondFaceValue | ||
| * @param $bondMarketValue | ||
| * @param $bondAnnualCouponRate | ||
| * @param $bondYearsToMaturity | ||
| * @param int $bondPaymentFrequency | ||
| */ | ||
| function __construct($bondFaceValue, | ||
| $bondMarketValue, | ||
| $bondAnnualCouponRate, | ||
| $bondYearsToMaturity, | ||
| $bondPaymentFrequency = 1) { | ||
| $this->bondInstance = new BondInstance($bondFaceValue, | ||
| $bondMarketValue, | ||
| $bondAnnualCouponRate, | ||
| $bondYearsToMaturity, | ||
| $bondPaymentFrequency); | ||
| } | ||
|
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| /** | ||
| * @return BondInstance | ||
| */ | ||
| function getResult() { | ||
| return $this->bondInstance; | ||
| } | ||
| } | ||
| } | ||
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| namespace FinanCalc\Calculators\BondYTMCalculator { | ||
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| use FinanCalc\Interfaces\BondInstanceAbstract; | ||
| use FinanCalc\Utils\Helpers; | ||
| use FinanCalc\Utils\MathFuncs; | ||
|
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| /** | ||
| * Class BondInstance | ||
| * @package FinanCalc\Calculators\BondYTMCalculator | ||
| */ | ||
| class BondInstance extends BondInstanceAbstract { | ||
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| // market value of the bond = 'P' | ||
| private $bondMarketValue; | ||
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| // INHERITED MEMBERS | ||
| // face value of the bond = 'F' | ||
| // $bondFaceValue; | ||
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| // coupon rate of the bond per annum = 'c' | ||
| // $bondAnnualCouponRate; | ||
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| // number of years to the maturity of the bond | ||
| // $bondYearsToMaturity; | ||
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| // frequency of bond payments (expressed in a divisor of 12 months ~ 1 year) | ||
| // e.g.: divisor 2 means semi-annual payments | ||
| // $bondPaymentFrequency; | ||
|
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| /** | ||
| * @param $bondFaceValue | ||
| * @param $bondMarketValue | ||
| * @param $bondAnnualCouponRate | ||
| * @param $bondYearsToMaturity | ||
| * @param $bondPaymentFrequency | ||
| */ | ||
| function __construct($bondFaceValue, | ||
| $bondMarketValue, | ||
| $bondAnnualCouponRate, | ||
| $bondYearsToMaturity, | ||
| $bondPaymentFrequency) { | ||
| $this->setBondFaceValue($bondFaceValue); | ||
| $this->setBondMarketValue($bondMarketValue); | ||
| $this->setBondAnnualCouponRate($bondAnnualCouponRate); | ||
| $this->setBondYearsToMaturity($bondYearsToMaturity); | ||
| $this->setBondPaymentFrequency($bondPaymentFrequency); | ||
| } | ||
|
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| /** | ||
| * @param $bondMarketValue | ||
| */ | ||
| public function setBondMarketValue($bondMarketValue) { | ||
| if(Helpers::checkIfPositiveNumberOrThrowAnException($bondMarketValue)) { | ||
| $this->bondMarketValue = $bondMarketValue; | ||
| } | ||
| } | ||
|
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| public function getBondMarketValue() { | ||
| return $this->bondMarketValue; | ||
| } | ||
|
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| /** | ||
| * @return string | ||
| */ | ||
| public function getApproxBondYTM() { | ||
| // we need to calculate the coupon payment C = F*c | ||
| $couponPayment = $this->bondFaceValue * $this->bondAnnualCouponRate; | ||
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| // we use a formula to approximate the YTM = (C+(F-P)/n)/((F+P)/2) | ||
| $approxYTM = | ||
| MathFuncs::div( | ||
| MathFuncs::add( | ||
| $couponPayment, | ||
| MathFuncs::div( | ||
| MathFuncs::sub( | ||
| $this->bondFaceValue, | ||
| $this->bondMarketValue), | ||
| $this->getBondNoOfPayments() | ||
| ) | ||
| ), | ||
| MathFuncs::div( | ||
| MathFuncs::add( | ||
| $this->bondFaceValue, | ||
| $this->bondMarketValue | ||
| ), | ||
| 2)); | ||
|
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| return $approxYTM; | ||
| } | ||
|
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| // TODO – add a method for precise bond YTM calculation by means of a polynominal equation | ||
| } | ||
| } |
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