grade 11pauljorelsantos.weebly.com/uploads/9/2/9/2/92921742/...grade 11 /1 2 2 what’s new lesson 1...

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Learning Competency: (1) Illustrates stocks and bonds, (2) Distinguish between stocks and

bond, (3) Describe different markets for stocks and bonds and (4) Analyze the different indices

for stocks and bonds.

Code: M11GM-IIe-1, e-2 and e-3

Semester: 1st Semester

Quarter: 2nd Quarter

Number of Hours: 4 Hours

Prepared by:

MARILOU V. TOMPONG

Department of Education • Republic of the Philippines

Grade

11

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WHAT’S NEW LESSON 1

Stocks and Bonds

Most Filipinos are engaged in different types of investment. Some investments

that are less explored are stocks and bonds. In this lesson, you will learn the basic

concepts of financial management of stocks and bonds.

What I Need to Know

By the end of this lesson, you are expected to:

1. Illustrates stocks and bonds and distinguish between stocks and

bonds

a. Definition of terms related to stocks

b. Definition of terms related to bonds

c. Examples

To achieve the objectives of this module, do the following:

Take your time reading the lessons carefully.

Follow the directions and/or instructions in the activities and exercises

diligently.

Answer all the given tests and exercises.

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What I know…

PRE – TEST

Direction: Choose the letter of the correct answer and write the correct letter on the separate sheet of paper.

1. It is a share in the ownership of a company.

a. Stocks b. Bond

c. Share d. Stock Market

2. It is a place where stocks can be bought or sold.

a. Stocks b. Bond


3. It is an interest- bearing security which promises to pay a stated amount on the maturity and regular interest payments.

a. Stocks b. Bond


4. Investors are guaranteed interest payments and return of their money at the maturity date.

a. Stocks b. Bond


5. It is the current price of a stock at which it can be sold.

a. Stock Market b. Bond Market

c. Market Value d. Par Value

6. It is the measure of the value of a section of the stock market and is computed from the price of selected stocks.

a. Stock Index b. Bond Index


7. It is lower risk but lower yield.

a. Stocks b. Bonds


8. It is the amount payable on the maturity date

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9. It is ratio of the annual dividend per share and the market value per share.


c. Stock Yield Ratio d. Par Value

10. It is a method of measuring the value of a section of the bond market.

a. Stock Index b. Bond Index

c. Stock Yield Ratio d. Bond Yield Ratio

11. A certain corporation declared a 5% dividend on a stock with a par value of ₱900.00. Mrs. L owns 250 shares of stock with a par value of ₱900.00. How much is the dividend she received?

a. ₱12,150.00 b. ₱11,150.00

c. ₱11,250.00 d. ₱12,250.00

12. Mr. Vincent Gomez bought sixty ₱1,500.00 ACTS bonds at 103. What is his total investment in ACTS bonds?

a. ₱109,270.00 b. ₱97,700.00

c. ₱92,200.00 d. ₱92,700.00

13.It is fixed period of time (in years) at which the bond is redeemable as stated in the bond certificate; number of years from time of purchase to maturity date .

a. Term b. Rate

c. Stock Yield Ratio d. Bond Yield Ratio

14. Mrs. Scarlet owns 65 bonds with a par value of ₱2,000 each and pays 10 %

interest.Whatannual income does Mrs. Scarlet get from these bonds?

a. ₱10,000.00 b. ₱11,000.00

c. ₱12,000.00 d. ₱13,000.00

15. Find the yield on ₱5,000.00, 12% ACTS bond priced at 95 plus ₱20 commission.

a. 11.58% b. 12.58%

c. 13.58% d. 14.58%

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LET’S EXPLORE:

Your grandparents gave you ₱175,000.00 on your 16th birthday. You were instructed

to invest the money so that the earnings can be used to pay for your tuition fee in college.

Having heard about the risks and rewards of the stock market from you parents, you become

interested in buying stocks in a particular company. Below are the options given to you by

your parents:

Option 1: Company ABC’s selling stock is ₱1,500.00 per share that will have a dividend of

₱200.00 per year. The stock can be sold after two years at ₱2,000.00 and the

market requires a rate of return of 15%.

Option 2: Company XYZ’s selling stock is ₱1,000.00 per share that will have a dividend of

₱180.00 per year. The stock can be sold after two years at ₱2,000.00 and the

market requires a rate of return of 7%.

In which company will you invest your money? Why?

WHAT’S NEW

1. Illustrates Stocks and Bonds

Stocks

Stock is a share of ownership in a business or company.

Some corporations may raise money for their expansion by issuing stocks. Stocks are

shares in the ownership of the company. Owners of stocks may be considered as part owners

of the company.

There are two types of stocks: Common stock and preferred stocks. Both will receive

dividends or share of earnings of the company. Dividends are paid first to preferred

shareholders.

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Stocks can be bought or sold at its current price called the market value. When a

person buys some shares, the person receives a certificate with the corporations name,

owners name, number of shares and par value per share.

The stakeholders are the owners of the firm.

Stock valuation is important in order to compare the price of the stock with respect to

the market.

Bonds

Bond is a debt of the firm.

A bond is a certificate which proves that a company or corporation borrowed money

from a certain group of individuals or investors for a definite period of time at a fixed rate.

Owning a bond is just like saving money from a bank in which you will earn interest from the

amount borrowed.

A bond can be bought from a company or other people. The bond is said to have a

high value if it earns high interest payment compared to the market interest rate. Otherwise,

the bond is valued low.

Bonds are interest bearing security which promises to pay amount of money on a

certain maturity date as stated in the bond certificate. Unlike stockholders, bondholders are

lenders to the institution which may be a government or private company. Some bond issues

are the national government, government agencies, government owned and controlled

corporations, non-bank corporations, banks and multilateral agencies.

2. Distinguish between stocks and bonds

STOCKS BONDS

A form of equity financing or raising money by allowing investors to be part owners of the company.

A form of debt financing, or raising money by borrowing from investors

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Stock prices vary every day. These prices are reported in various media (newspaper, TV, internet, etc.

Investors are guarantee interest payments and a return of their money the maturity date.

Investing in stock involves some uncertainty. Investors can earn if the stock prices increase, but they can lose money if the stock prices decrease or worse, if the company goes bankrupt.

Uncertainty comes from the ability of the bond issuer to pay the bondholders. Bonds issued by the government pose less risk than whose by companies because the government has guaranteed funding (taxes) from which it can pay its loans.

Higher risk but with possibility of higher returns Lower risk but lower yield.

Can be appropriate if the investment is for the long term (10years or more). This can allow investors to wait for stock prices to increase if ever they go low.

Can be appropriate for retirees (because of the guaranteed fixed income) or for those who need the money soon (because they cannot afford to take a chance at the stock market)

3. Definition of terms in relation to stocks.

Stocks – share in the ownership of a company

Dividend – share in the company’s profit

Dividend per share – ration of the dividends to the number of shares

Stock Market – a place where stocks can be bought or sold. The stock market in the

Philippines is governed by the Philippine Stock Exchange (PSE)

Market Value – the current price of a stock at which it can be sold

Stock Yield Ratio – ratio of the annual dividend per share and the market value per

share. Also called current stock yield.

Par Value – the per share amount as stated on the company certificate. Unlike market

value, it is determined by the company and remains stable over time

3. Definition of terms in relation to bonds.

Bond – interest bearing security which promises to pay

(a.) a stated amount of money on the maturity date, and

(b.) regular interest payments called coupons

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Coupon – periodic interest payment that the bondholder receives during the time

between purchase date and maturity date; usually received semi-annually

Coupon Rate – the rate per coupon payment period; denoted by r

Price of a Bond – the price of the bond at a purchase time; denoted by P

Par Value or Face Value – the amount payable on the maturity date; denoted by

F

Term (or Tenor) of a Bond – fixed period of time (in years) at which the bond is

redeemable as stated in the bond certificate; number of years from time of

purchase to maturity date .

Fair Price of a Bond – present value of all cash inflows to the bondholder

What Is It? Examples in Relation to Stocks.

Example 1. A certain financial institution declared a ₱30,000,000.00 dividend for the

common stocks. If there are a total of ₱700,000.00 shares of common stock,

how much is the dividend per share?

Solution:

Given: Total Dividend = ₱30,000,000.00

Total Shares = ₱700,000.00

Find: Dividend per Share = ?

If P = F , the bond is purchased at par.

If P < F , the bond is purchased at a discount.

If P > F, the bond is purchased at premium.

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𝐷𝑖𝑣𝑖𝑑𝑒𝑛𝑑 𝑝𝑒𝑟 𝑠ℎ𝑎𝑟𝑒 =𝑇𝑜𝑡𝑎𝑙 𝐷𝑖𝑣𝑖𝑑𝑒𝑛𝑑

𝑇𝑜𝑡𝑎𝑙 𝑆ℎ𝑎𝑟𝑒𝑠

=30,000,000.00

70,000.00

= 42.86

Therefore, the dividend per share is ₱42.86

Example 2. A certain corporation declared a 3% dividend on a stock with a par value of

₱500.00. Mrs. Lingan owns 200 shares of stock with a par value of ₱500.00.

How much is the dividend she received?

Solution:

Given: Dividend Percentage = 3%

Par Value = ₱500.00

Number of Shares = 200

Find: Dividend = ?

The dividend per share is ₱500 x 0.03 = ₱15.00. Since there are 200 shares, the total dividend

is ₱15/share x 200 shares = ₱3,000.00

In summary,

Dividend = Dividend Percentage x Par value x Number of Shares

= 0.03(500)(200)

= 3,000

Therefore, the dividend is ₱3,000.00

Example 3. Corporation A, with a current market value of ₱52.00, ae a dividend of ₱8.00

per share for its common stock. Corporation B, with a current market value of

₱95.00, gave a dividend of ₱12.00 per share. Use stock yield ration to measure

how much dividends shareholders are getting in relation to the amount

invested.

Solution:

Corporation A

Given: Dividend per share = ₱8.00

Market Value = ₱52.00

Find: Stock Yield Ratio = ?

10

Stock Yield Ratio = Dividend per Share

Market Value

= 8

52

= 0.1538

= 15.38%

Corporation B

Given: Dividend per share = ₱12.00

Market Value = ₱95.00

Find: Stock Yield Ratio = ?

Stock Yield Ratio = Dividend per Share

Market Value

= 12

95

= 0.1263

= 12.63%

Corporation A has a higher stock yield ratio than Corporation B. Thus, each peso would

earn you more if you invest in Corporation A than B. If all things are equal, then it is wiser to

invest in Corporation A.

As. Example 3 shows, the stock yield ration can be used to compare two or more investments.

What Is It?

Examples in Relation to Bonds.

Example 1. Determine the amount of the semi-annual coupon for a bond with a face value

of ₱300,000.00 that pays 10%, payable semi-annually for its coupons.

Solution:

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Given: Face Value F = ₱300,000

Coupon Rate r = 10%

Find: Amount of the Semi-annual Coupon = ?

Annual Coupon Amount = 300,000 ( 0.10) = 30,000

Semi-annual Coupon Amount : 30,000 (1/2) = 15,000

Thus, the amount of the semi-annual coupon is ₱15,000.00

Example 2: Ms. Claire Garcia bought fifty ₱1,000.00 ACTS bonds at 103. What is her total

investment in ACTS bonds?

Solution:

Market Price of 1 bond: 1.03 x ₱1,000 = ₱1, 030.00

Total investment: 1,030 x 50 = ₱51,500.00

Thus, the amount total investment is ₱51,500.00

When bonds are bought and sold through a broker, the broker charges a broker’s

commission or brokerage fee. Hence, the amount investment becomes the market price of the

bonds plus the broker’s commission.

Example 3. Mrs. Go owns 45 bonds with a par value of ₱1,000 each and pays 8 ½ %

interest. What annual income does Mrs. Go get from these bonds?

Solution:

Given: Number of Bonds = 45

Rate r = 8 ½ %

Par Value = 1,000

Find: Annual income= ?

Par Value of 45 bond: 45 x ₱1,000.00 = ₱45,000.00

Annual Income = Par Value of Number of bonds x rate x time

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= ₱45,000 x 0.085 x 1

= ₱3,825.00

The annual income for one year is ₱3,825.00

Example 4. Find the yield on ₱1,000.00, 9% ACTS bond priced at 94 plus ₱10 commission.

Solution:

Given: Par Value = 1,000

Rate r = 9 %

Commission = 10

Find: Yield (rate of income)= ?

Annual Income: ₱1,000.00 x 0.09 x 1 = 90

Amount Invested : Market Price + Commission

= (0.94 x ₱1,000) + ₱10

= ₱940 + ₱10

= ₱950.00

Yield (Rate of Income) = 𝐴𝑛𝑛𝑢𝑎𝑙 𝐼𝑛𝑐𝑜𝑚𝑒

𝐴𝑚𝑜𝑢𝑛𝑡 𝐼𝑛𝑣𝑒𝑠𝑡𝑒𝑑

= 90

950= 0.0947

= 9.47%

The yield on the investment is 9.47% or ACTS Corporation bond yields at 9.47%.

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Activity 1.

A. Find the net proceeds of the stocks on the table below.

B. Answer the following problems completely

1. Tim bought 50 shares of Clarky stock at ₱685.00 per share and paid ₱956.00 commission.

Find Tim’s total investment.

2. A land developer declared a dividend of ₱10,000.00 for its common stock. Suppose there

are 600,000 shares of common stock, how much is the dividend per share?

3. A property holdings declared of ₱9 per share for the common stock. If the common stock

closes at ₱76, how large is the stock yield ration on this investment?

Name of Stock Shares Held Selling Price

per Share

Expenses (Commission,

taxes and Fees) Net Proceeds

1. Food Corporation

100

₱1,040.00 ₱2,640.00

2. Property Holdings

250 ₱500.00 ₱1,720.00

3. Power Corporation

80 ₱1,480.00 ₱1,880.00

4.Transportation Corporation

300 ₱320.00 ₱2,240.00

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WHAT I HAVE LEARNED

Stock is a share of ownership in a business or company. Some corporations may raise money for their expansion by issuing stocks. Stocks are shares in the ownership of the company. Owners of stocks may be considered as part owners of the company.

There are two types of stocks: Common stock and preferred stocks. Both will receive dividends or share of earnings of the company. Dividends are paid first to preferred shareholders.

Stocks can be bought or sold at its current price called the market value. When a person buys

some shares, the person receives a certificate with the corporations name, owners name, number of shares and par value per share.

Bond is a debt of the firm.

A bond is a certificate which proves that a company or corporation borrowed money from a certain group of individuals or investors for a definite period of time at a fixed rate. Owning a bond is just like saving money from a bank in which you will earn interest from the amount borrowed.

STOCKS BONDS

A form of equity financing or raising money by allowing investors to be part owners of the company.

A form of debt financing, or raising money by borrowing from investors

Stock prices vary every day. These prices are reported in various media (newspaper, TV, internet, etc.

Investors are guarantee interest payments and a return of their money the maturity date.

Investing in stock involves some uncertainty. Investors can earn if the stock prices increase, but they can lose money if the stock prices decrease or worse, if the company goes bankrupt.

Uncertainty comes from the ability of the bond issuer to pay the bondholders. Bonds issued by the government pose less risk than whose by companies because the government has guaranteed funding (taxes) from which it can pay its loans.

Higher risk but with possibility of higher returns Lower risk but lower yield.

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A. Tell whether the following is a characteristic of stocks and bonds.

1. It can be appropriate for retirees (because of the guaranteed fixed income) or for

those who need the money soon.

2. Investors can earn if the security prices increase, but they can lose money if the

security prices decrease od worse, if the company goes bankrupt.

3. A form of equity financing,or raising money by allowing investors to be part of the

company.

4. A form of debt financing,or raising money by borrowing from investors.

5. Investors are guaranteed interest payments and a return of their money at the

maturity date.

B. Answer the following problems completely.

1. A ₱450,000.00 bond is redeemable at ₱550,000.00 after 5 years. Coupons are given

at 5% convertible semi-annually. Find the amount of the semi-annual coupon.

Can be appropriate if the investment is for the long term (10years or more). This can allow investors to wait for stock prices to increase if ever they go low.

Can be appropriate for retirees (because of the guaranteed fixed income) or for those who need the money soon (because they cannot afford to take a chance at the stock market)

ASSESSMENT After our lesson, let us check what have you learned

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2. A certain land developer declared a dividend of ₱28 per share for the common

stock. If the common stock is closes at ₱99.00, how large is the stock yield ratio on this

investment?

3. A food corporation declared a dividend of ₱25,000,000 for its common stock.

Suppose there are 180,000 shares of common stock, how much is the dividend per

share?

4. Determine the amount of a semi-annual coupon paid for a 3% bond with a face

value of ₱80,000 which matures after 15 years.

5. A certain financial institution declared ₱57 dividend per share for its common stock.

The market value of the stock is ₱198. Determine the stock yield ratio.

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WHAT’S NEW LESSON 2

Market Indices for Stock and Bonds

What I Need to Know

By the end of this lesson, you are expected to:

1. Describe the different markets for stocks and bonds and analyze

the different market indices for stocks and bonds

Lesson Outline:

1. Stock Market Indices

2. Stock Market Tables

3. Practical Information about Stocks

4. Bond Market Index

5. Practical Information about Bonds

To achieve the objectives of this module, do the following:

Take your time reading the lessons carefully.

Follow the directions and/or instructions in the activities and exercises

diligently.

Answer all the given tests and exercises.

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WHAT’S NEW LESSON 2.1

Market Indices for Stocks and Bonds

1. The Stock Market

A Stock Index or Stock Market Index is the measure of the value of a section of the

stock market and is computed from the price of selected stocks. Investors and financial

managers use this to describe the market and compare the return on specific investment.

One example is the PSE Composite Index or PSEi. It is composed of 30 companies carefully

selected to represent the general movement of market prices. The up and down movement

in percent change over time can indicate how the index is performing.

Other indices are sector indices, each representing sector (e.g., financial institutions,

industrial corporations, holding firms, service corporations, mining/oil, and property)

The stock index can be a standard by which investors can compare the performance

of their stocks. A financial institution may want to compare its performance with those of

others. This can be done by comparing with the “financial” index.

2. Stock Market Table

Stock indices are reported in the business section of magazines or newspapers, as well

as online. The following table shows how a list of index values is typically presented (values

are hypothetical).

Index Val Chg %Chg

PSEi 7,523.93 -14.20 -0.19

Financials 4,037.83 6.58 0.16

Holding Firms 6,513.37 2.42 0.037

Industrial 11,741.55 125.08 1.07

Property 2,973.52 -9.85 -0.33

Services 1,622.73 -16.27 -1.00

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In the table above, the terms mean the following:

Val – value of the index

Chg – change of the index value from the previous trading day (i.e., value today minus

value yesterday)

%Chg – ratio of change of the index (Chg) to Val ( i.e., Chg dibided by Val)

STOCK TABLES

Newspapers or magazine may also report on stock prices of individual companies. The

following table shows how information about stocks can be presented values are

hypothetical).

52 – WK 52 – WK STOCK HI LO DIV VOL (100s) CLOSE NETCHG

HI LO

94 44 AAA 60 35.5 0.70 2050 57.29 0.10

88 25 BBB 45 32.7 0.28 10700 45.70 -0.20


52 – WK HI/LO – highest/ lowest selling price of the stock in the past 52 weeks

HI/LO – highest/lowest selling price of the stock in the last trading day

STOCK – three-letter symbol the company is using for trading

DIV – dividend per share last year

VOL (100s) – number of shares (in hundreds) traded in the last trading day (In this

case, stock 100 AAA sold 2,050 shares of 100 which is equal to 20,500 shares)

CLOSE – closing price on the last trading day.

NETCHG – net change between the two last trading days (in the case of AAA, the net

change is 0.10. Tha closing price the day before the last trading is ₱57.29 - ₱0.10 =

₱57.19.)

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BUYING OR SELLING STOCKS

To buy or sell stocks, one may go to the Philippine Stock Exchange (PSE) personally.

However, nowadays are done making a phone call to a registered broker or by logging on

to a reputable online trading platform. Those with accounts in online trading platforms

may often encounter a table like the following:

BID ASK/OFFER

SIZE PRICE PRICE SIZE

122 354,100 21.60 21.80 20,000 1

9 81,700 21.55 21.90 183,500 4

42 456,500 21.50 22.15 5,100 1

2 12,500 21.45 22.25 11,800 4

9 14,200 21.40 22.30 23,400 6


Bid Size – the number of individual buy orders and the total number of shares that

wish to buy

Bid Price – the price these buyers are willing to pay for the stock

Ask Price – the price the sellers of the stock are willing to sell the stock

Ask Size – how many individual sell orders have been placed in the online platform

and the total number of shares these sellers wish to sell.

For example, the first row under BID means that there are total of 122 traders who wish to

buy a total of 354,100 shares at ₱21.60 per share. On the other hand, the first row under ASK

means that just 1 trader is willing to sell his 20,000 at a price of ₱21.80 per share.

3. BOND MARKET INDICES

A bond index or bond market index is a method of measuring the value of a section of the

bond market. The main platform for bonds or fixed income securities in the Philippines is the

Philippine Dealing and Exchange Corporation (or PDEx). Unlike stock indices which are

associated with virtually every stock market in the world, bond market indices are far less

common. In fact, other than certain regional bond indices which have subindices covering the

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Philippines, our bond market does not typically compute a bond market index. Instead, the

market rates produced from the bond market are interest rates which may be used as

benchmarks for other financial instruments.

WHAT IS IT…

Activity: Fill in the blanks. 1

1. _______________ the number of individual buy orders and the total number of shares that

wish to buy

2._______________ the measure of the value of a section of the stock market and is

computed from the price of selected stocks.

3. _______________are reported in the business section of magazines or newspapers, as well

as online.

4. To buy or sell stocks, one may go to the ___________________ personally.

5. A financial institution may want to compare its performance with those of others. This can

be done by comparing with the _____________ index.

6. ____________is a share of ownership in a business or company.

7. The market rates produced from the bond market are ___________ rates which may be

used as benchmarks for other financial instruments.

8. The price these buyers are willing to pay for the stock is called _____________.

9. The share in the company’s profit is called _____________.

10. A ______________ is a method of measuring the value of a section of the bond market.

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1. The Stock Market

A Stock Index or Stock Market Index is the measure of the value of a section of the stock

market and is computed from the price of selected stocks. Investors and financial managers use this

to describe the market and compare the return on specific investment.

One example is the PSE Composite Index or PSEi. It is composed of 30 companies carefully selected to

represent the general movement of market prices. The up and down movement in percent change

over time can indicate how the index is performing.

Other indices are sector indices, each representing sector (e.g., financial institutions, industrial

corporations, holding firms, service corporations, mining/oil, and property)

The stock index can be a standard by which investors can compare the performance of their

stocks. A financial institution may want to compare its performance with those of others. This can be

done by comparing with the “financial” index.

Bid Size – the number of individual buy orders and the total number of shares that wish to

buy

Bid Price – the price these buyers are willing to pay for the stock

Ask Price – the price the sellers of the stock are willing to sell the stock

Ask Size – how many individual sell orders have been placed in the online platform and the

total number of shares these sellers wish to sell.

A bond index or bond market index is a method of measuring the value of a section of the bond

market.

WHAT I HAVE LEARNED

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Assessment After our lesson, let us now check what you have

learned.

Direction: Match the terms in Column A to the

statements in column B.

A B

1. Bid price a. Measure of the value of a section of the stock market

and is computed from the price of selected stocks.

2. Bond Index b. It is share of ownership in a business or company .

3. Stocks c. Method of measuring the value of a section of the

bond market.

4. Bonds d. The price these buyers are willing to pay for the stock

5. Bid Size e. Interest bearing security which promises to pay

amount of money on a certain maturity date as stated

in the bond certificate.

6. Stock Market f. It is how many individual sell orders have been placed

in the online platform and the total number of shares

these sellers wish to sell.

7. Par Value g. It is the current price of a stock at which it can be sold

8. Market Value h. The number of individual buy orders and the total

number of shares that wish to buy

9. Ask Size i. A place where stocks can be bought or sold.

10. Stock Index j. The per share amount as stated on the company

certificate.

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Key Answers

LESSON 1.

PRE TEST:

1. A

2. D

3. B

4. B

5. C

6. A

7. B

8. D

9. C

10. B

11. C

12. D

13. A

14. D

15. B

Activity 1.

A.

1. ₱101,360.00

2. ₱123,280.00

3. ₱116,520.00

4. ₱93,760.00

B.

1. ₱33,294.00

2. ₱16.67

3. 11.84%

ASSESSMENT:

A.

1. BOND

2. STOCK

3. STOCK

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4. BOND

5. BOND

B.

1. ₱11,250.00

2. 28.28%

3. ₱138.89

4. ₱1,200.00

5. 28.79%

LESSON 2.

1. BID SIZE 6. STOCKS

2. STOCK INDEX 7. INTEREST

3. STOCK INDICES 8. BID PRICE

4. PSE 9. DIVIDEND

5. FINANCIAL 10. BOND INDEX

REFERENCES:

General Mathematics Book pg. 243-264 REX BOOK STORE BY: ORLANDO A. ORONCE General Mathematics Book pg. 283-299 C & E Publishing, Inc. By: GRACE OBIAS-AOANAN, MA.LOURDES PIDOR-PLARIZAN, BEVERLY TABAY-REGIDOR AND LOLLY JEAN CARUPO-SIMBULAS General Mathematics pg. 237-251 TEACHING GUIDE FOR SENIOR HIGH SCHOOL COMMISSION ON HIGHER EDUCATION IN COLLABORATION WITH THE PHILIPPINE NORMAL UNIVERSITY

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