AAII Program #2
				 Bond Yields (BOND)
                                          
                              (c) Copyright 1982 by the
                               American Association of
                                Individual Investors
          
          
          This program calculates the yield-to-maturity of bonds with and
          without taxes.  Particularly in the case of bonds with less than
          10 years to maturity, it is essential to indicate the years PLUS
          MONTHS.  You will need a bond guide as the newspapers only give
          the year of maturity.  The yield is quite different for a bond if
          it has six years to maturity than if it has six years and six
          months.  The program also asks for your marginal tax rate on
          ordinary income and on capital gains.  If you are not interested
          in after-tax yields or are evaluating tax-exempt investments,
          enter 0 for these figures.