{"id":249,"date":"2026-07-19T16:20:31","date_gmt":"2026-07-19T16:20:31","guid":{"rendered":"https:\/\/eclass.co.ke\/class\/lesson\/3-1-introduction\/"},"modified":"2026-07-19T17:41:25","modified_gmt":"2026-07-19T17:41:25","slug":"3-1-introduction","status":"publish","type":"eclass_lesson","link":"https:\/\/eclass.co.ke\/class\/lesson\/3-1-introduction\/","title":{"rendered":"3.1 Introduction"},"content":{"rendered":"<p>Understanding how to value fixed-income securities is important to investors, issuers, and financial analysts. Bond pricing is an application of discounted cash flow analysis &#8211; Bond price should be equal to the value of all discounted future cash flows. The market discount rate is used to obtain the present value &#8211; The market discount rate is the rate of return required by investors given the risk of the investment in the bond. The market discount rate is also called the &quot;required yield&quot; or &quot;required rate of return.&quot;<\/p>\n<h3>Lesson Wrap-Up<\/h3>\n<p>This lesson should leave you able to explain the introduction in a fixed-income context and connect it to the decisions made by issuers, investors, or analysts.<\/p>\n<h3>Review Prompts<\/h3>\n<ol>\n<li>Explain introduction in your own words.<\/li>\n<li>State one exam-style risk, valuation, or market implication of the introduction.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Understanding how to value fixed-income securities is important to investors, issuers, and financial analysts. Bond pricing is an application of discounted cash flow analysis &#8211; Bond price should be equal to the value of all discounted future cash flows. The market discount rate is used to obtain the present value &#8211; The market discount rate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","class_list":["post-249","eclass_lesson","type-eclass_lesson","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/eclass.co.ke\/class\/wp-json\/wp\/v2\/eclass_lesson\/249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eclass.co.ke\/class\/wp-json\/wp\/v2\/eclass_lesson"}],"about":[{"href":"https:\/\/eclass.co.ke\/class\/wp-json\/wp\/v2\/types\/eclass_lesson"}],"author":[{"embeddable":true,"href":"https:\/\/eclass.co.ke\/class\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eclass.co.ke\/class\/wp-json\/wp\/v2\/comments?post=249"}],"version-history":[{"count":2,"href":"https:\/\/eclass.co.ke\/class\/wp-json\/wp\/v2\/eclass_lesson\/249\/revisions"}],"predecessor-version":[{"id":385,"href":"https:\/\/eclass.co.ke\/class\/wp-json\/wp\/v2\/eclass_lesson\/249\/revisions\/385"}],"wp:attachment":[{"href":"https:\/\/eclass.co.ke\/class\/wp-json\/wp\/v2\/media?parent=249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}