Fixed Income
How a bond is priced
The price of a bond is the present value of its cash flows at the yield the market requires. The diagram discounts each payment and adds them up.
Watch a walkthrough
Three of the narrated walkthroughs from the course, as a learner gets them: the voice, the diagrams drawn as the idea is reached, and the arithmetic worked on screen. No account needed. Tap any line to hear it again.
Each is one outcome from Level I of the CFA® Program. Sound on, and full screen is in the player.
Derivatives
What a call option pays at expiry
A short formula that describes a bend in the payoff. The diagram draws the payoff as the price moves through the exercise price.
Quantitative Methods
NPV and IRR: two answers to two questions
NPV says how much richer a project makes you. IRR says what return it earns. The worked example shows when they agree and when they do not.
Start with the free diagnostic
One outcome free in every topic, no card.