The following equations become handy if a financial calculator is not available:
Floating rate securities:
Coupon Rate = Reference Rate + Quoted Margin
Deleveraged Floaters
Coupon Rate = b x (Reference Rate) + Quoted Margin
Inverse Floaters
Coupon Rate= KL x (Reference Rate)
Effective Duration
DE=P  P+ / 2P0∆r
Application of Effective Duration
%Change in Price of Bond=DE∆r
Bonds with Embedded Options
PCB=PNCBC
PPB=PNPB+p
Tax Equivalent Yield
Tax Equivalent Yield=Taxfree Bond Yield/1Marginal Income Tax Rate
After Tax Yield=Pretax Yield (1Marginak Tax Rate)
Determining the Discount Rate
Discounting Rate for the Bond=Yield to Maturity=Risk Free Treasury Yield+Nominal Spread
