On 20021,the political department issued the seventh and eighth treasury bonds, of which the annual coupon rate of the seventh three-year treasury bonds was 3.4% and the coupon rate of the eighth five-year treasury bonds was 3.57%.

Expected income from debt interest = principal × maturity of national debt, and expected annual income = principal × interest rate.

When we buy 10000 treasury bonds, the expected annual income for three years = principal × interest rate = 10000=3.4%=340 yuan.

Expected five-year annual income = principal × interest rate = 10000×3.57%=357 yuan.

Judging from the above data, the expected income from purchasing 10000 bonds every year is 3-year and 5-year 340 yuan and 357 yuan respectively. The interest rate of 202 1 bank time deposit has dropped, in fact, the interest rate of 202 1 national debt has also dropped, but for bank time deposit, the interest income on debt is still higher, but the liquidity is not good and the term is longer.

There are three types of treasury bonds: voucher treasury bonds, savings treasury bonds and book-entry treasury bonds. Among them, there are more investors in savings bonds (electronic) and certificate-based government bonds. The coupon rate of these two kinds of national debt is the same. According to the latest national debt issued in June 5438+ 10, the three-year coupon rate is 4% and the five-year is 4.27%.

The calculation formula of debt interest is: interest = principal× term× interest rate. For example, if an investor buys a three-year national debt of 654.38+00000 yuan, the expected interest income at maturity is: 654.38+00000 * 4% * 3 = 654.38+0200 yuan.

However, it should be noted that the interest payment methods of voucher-type government bonds and electronic government bonds are different. Voucher-type national debt repays the principal and interest in one lump sum at maturity, that is, investors can only get the interest of the national debt in the last year.

Extended data:

way

It generally has the following ways:

(1) General interest

General interest is a kind of fixed interest, which refers to the interest specified when issuing national debt. The calculation methods are simple interest and compound interest. If p stands for principal amount, I stands for interest rate of national debt, I stands for interest, S stands for principal and interest or repayment amount, and n stands for repayment period, then:

Interest amount calculated in simple interest method I = p.i.n

Debt repayment amount S=P( 1 ten I n).

The debt repayment amount calculated by compound interest is s = p (1+I) n.

Interest amount I = s-p = p [(1+I)] n-1].

Because the compound interest method is "rolling interest", that is, the interest generated by the principal also bears interest. Therefore, under the same interest rate conditions, the calculated interest is greater than that calculated by simple interest method.

(2) Hedging interest

Hedging interest is generally a kind of floating interest, which means that bond interest fluctuates with the inflation index to increase investors' interest in subscribing for government bonds. Inflation has become a common and incurable "chronic disease" in the economic development of all countries in the world.

Continued inflation will inevitably reduce the investment value of capital. Under the condition of inflation, investors will inevitably demand that government bond investment can compensate their inflation risk losses. In this case, the interest on the debt issued by the government consists of two parts:

Debt interest = nominal net interest ten inflation compensation.

Namely: debt interest = interest-bearing years x (average inflation rate in coupon rate).