(1) Calculated directly according to bill denomination, coupon rate and repayment period. If p represents the present value of the bond, n represents the unexpired term, i represents the annual interest rate and d represents the final value of the bond, then d = p (1+i) n. For example, for a bond with a term of 5 years and an annual interest rate of 5% and a denomination of 1 000 yuan, the sum of the principal and interest repaid at maturity (i.e. the final value of the bond) is

(2) Indirect calculation based on the present value and unexpired life of the bond. If the present value of the above bonds after two years is 1 102. In 5 yuan, the unexpired term is 3 years, and the final value of the bonds is 1 102. 5× (1+5%) 3 = 1276.3 yuan.