## Fxd Rate Bond

**is a direct subtype of Bond with functions Fxd Rate Bond Functions, direct subtypes Fxd Rate Bond subtypes, keys Fxd Rate Bond keys and example object FxdBnd that represents a specialization where each coupon is determined by a predefined constant interest rate.**

*Fxd Rate Bond*Each fixed payment equals

**, where**

*NrΔt***is the applicable rate determined by the predefined constant rates,**

*r***is the applicable notional and**

*N***is the length of the respective accrual period.**

*Δt*All cash flows are denominated in the same currency.