- Happy 400th birthday to the world's oldest bond [12/15/2024]
Posted on 12/16/2024 4:31:49 AM PST by C19fan
Most bonds mature eventually and are redeemed after periods of months, years, or even decades. And then there are so-called perpetual bonds.
These bonds have no maturity date and just keep paying interest to the holder forever. On Tuesday, the owner of a perpetual bond that was issued 400 years ago received a payment at a ceremony attended by the Financial Times.
(Excerpt) Read more at msn.com ...
snicker
Huh?
That’s something they do at gay bathhouses in Europe. It means....oh,never mind.
Cut to the chase, it paid out 299.42 British pounds ($380USD), which were then donated to a local dike museum. As you would expect, a Dutch woman in 1624 didn’t have much investment capital.
click link to find out!
Took forever to find out it paid bupkiss
Excel gives the value of an infinite series of payments of €13.61 euros at 2.5% interest as having a present value of €498.32. I get the future value of 20 annual payments of €13.61 @ 2.5% as €347.66, which is what I assume they should have owed the NYSE, assuming no interest on today’s payment, or €356.35 if they add one years interest, in other words £288.47 or £295.68. Presumably the bond should have a surrender value of €498.32 or, 1,200 Carolus guilders. I think the numismatic value of the bond, obviously far outweighs any current monetary value.
The value of an infinite series at rate r is equal to PV/r. If the first payment is delayed by a payment period it is PV/(r x (r+1)).
The key is to reinvest the interest in the stock market index fund. Lol.
“Fahrvergnügen.”
” As you would expect, a Dutch woman in 1624 didn’t have much investment capital.”
She should have invested it in Ireland.
Their capital is Dublin.
Groan. lol.
A response would be way too easy.
Read later.
Nice!!
Ah, old bonds. I am a born and bred Yankee, but I confess to a vested interest in the south rising again. I own several confederate bonds, legitimate spoils of war. My favorite is a $100 bond, five percent annual interest, with the coupons clipped right up through April 1865. The unclaimed interest, of course, would accumulate and compound at five percent. 20 or so years ago I calculated how much that would be worth today. I forget the number, but suffice it to say that I would be very, very well off.
I am sure that if the south rises again, it would honor the old confederate bonds. This would be a debt of honor. Anyone who disagrees is obviously a scoundrel and a scalawag, and you have no place on in a conservative forum like FR.
The best part is that since my ancestors were from the north and wore blue, I wouldn’t be liable for racial reparations either. I might, however, have to move somewhere with lax tax laws and no extradition treaty with the U.S. to avoid expropriative taxation.
This is the very definition of “fixed income”.
Oh my, the LGBTQ agenda is being pushed everywhere!
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