这是一份manchester曼切斯特大学BMAN21011作业代写的成功案例

Thus it follows that the value of the whole stream of payments is the sum of this progression. If $P$ is the present value or price of the bond, then
$$
P=\sum_{t=1}^{n} C \times \frac{1}{(1+i)^{t}}
$$
In the case of an irredeemable bond, the payments go on for ever and $t$ tends to infinity. This means that the series
$C \times \frac{1}{(1+i)^{t}}$
is converging on zero and the present value $P$ of the sum of the series can be more conveniently written as
$$
P=C / i
$$
This can be confirmed by taking the coupon of any undated government bond from the Financial Times and dividing it by the current long-term rate of interest.

BMAN21011 COURSE NOTES ：

However, most bonds in fact mature and so our formula has to include a valuation of the payment received on maturity. In this case $P$ is found as follows:
$$
P=\sum_{t=1}^{n} C \times \frac{1}{(1+i)^{t}}+\left[M \times \frac{1}{(1+i)^{n}}\right]
$$
where $M$ is the maturity value of the bond.
Or, more compactly,
$$
P=\sum \frac{C}{(1+i)^{t}}+\frac{M}{(1+i)^{n}}
$$