Series 7 Formulas

Current yield formula
Current Yield = Annual Interest / Current Market Price

Breakeven formula for call options (No stock transactions involved)
Breakeven = Exercise Price + Premium

Corporate Equivalent Yield Formula
Taxable Equivalent Yield = Municipal Yield / (100% - Investors Tax Rate)

Annual coupon amount
Coupon Rate X Par Value

Formula: Equity in a Long Margin Account
Equity = Current Market Value Long - Debit Balance

Equity in a short margin account = Proceeds of the Short Sale + Reg T deposit = Credit Balance - Current Market value short

Current yield formula
Current Yield = Annual Dividends / Market price

Parity Formula for Convertible Securities when given the Market Price of the Convertible Security
Parity Pricce = Market Value of the Bond or Preferred Stock / Common Shares Produced in the Conversion Formula

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