{"id":4734,"date":"2016-10-27T12:00:10","date_gmt":"2016-10-27T12:00:10","guid":{"rendered":"http:\/\/margill.com\/fr\/bonds\/"},"modified":"2026-01-27T10:21:05","modified_gmt":"2026-01-27T15:21:05","slug":"obligations","status":"publish","type":"post","link":"https:\/\/margill.com\/fr\/obligations\/","title":{"rendered":"Calcul d\u2019obligations financi\u00e8res"},"content":{"rendered":"<h3>Voir aussi :<\/h3>\n<ul>\n<li><a href=\"\/fr\/planification-finaciere\/\">Planification financi\u00e8re<\/a><\/li>\n<li><a href=\"https:\/\/margill.com\/fr\/financement\/\">Financement<\/a><\/li>\n<li><a href=\"https:\/\/margill.com\/fr\/comptabilite\/\">Comptabilit\u00e9<\/a><\/li>\n<li><a href=\"https:\/\/margill.com\/fr\/prets\/\">Pr\u00eats<\/a><\/li>\n<li><a href=\"https:\/\/margill.com\/fr\/finance-equipment-credit-bail\/\">Financement d&rsquo;\u00e9quipements<\/a><\/li>\n<li><a href=\"https:\/\/margill.com\/fr\/calcul-hypotheque\/\">Hypoth\u00e8ques<\/a><\/li>\n<\/ul>\n<p class=\"texteFushia\" align=\"left\">L&rsquo;euro (\u20ac) a \u00e9t\u00e9 utilis\u00e9 dans ces exemples, mais n&rsquo;importe quelle autre devise peut \u00e9galement \u00eatre utilis\u00e9e (\u00a3, F, \u00a5, R, DA, Rs, etc.).<\/p>\n<p class=\"texteFushia\" align=\"left\"><span class=\"texteNoir\">Le premier calcul ci-dessous peut utiliser un taux fixe (Int\u00e9r\u00eat \u00e0 taux unique) ou des taux variables.<\/span><\/p>\n<hr \/>\n<h3>Exemples concrets:<\/h3>\n<p><a href=\"https:\/\/margill.com\/fr\/obligations\/#1\">Calcul de la <b>prime<\/b> d&rsquo;une obligation<\/a> (tableau d&rsquo;amortissement de la prime)<\/p>\n<p><a href=\"https:\/\/margill.com\/fr\/obligations\/#2\">Calcul de l&rsquo;<b>escompte<\/b> sur l&rsquo;obligation<\/a><\/p>\n<p><b><\/b><a href=\"https:\/\/margill.com\/fr\/obligations\/#3\">Obligations \u00e0 <b>coupon z\u00e9ro<\/b><\/a><\/p>\n<p><a id=\"1\" name=\"1\"><\/a><\/p>\n<hr \/>\n<p><b><br \/>\n<span class=\"texteOrange\"><span style=\"font-size: small;\">Calcul de la <b>prime<\/b> d&rsquo;une obligation<\/span><\/span><\/b><\/p>\n<p>Quelle est la prime sur des obligations de cinq (5) ans \u00e0 8 %, vendues pour un rendement de 6 %? Co\u00fbt des obligations : 100 000,00<\/p>\n<p>Le paiement de 4 000 est calcul\u00e9 comme suit : 100 000 x 0,08 x 6\/12.<\/p>\n<p>Le \u00ab\u00a0capital\u00a0\u00bb demeure vide (0,00) et correspondra \u00e0 l&#8217;emprunt obligataire plus la prime sur cet emprunt.<\/p>\n<p align=\"center\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/margill.com\/images\/bonds1-fr.gif\" alt=\"\" width=\"590\" height=\"383\" \/><\/p>\n<p>Le \u00ab\u00a0solde\u00a0\u00bb maximum est de 999 999 999,00.<\/p>\n<p>L&rsquo;\u00e9cran des r\u00e9sultats pr\u00e9sente le capital de 108 530,20, ce qui correspond \u00e0 une prime de 8 530,00.<\/p>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/margill.com\/images\/bonds1a-fr.gif\" alt=\"\" \/><\/p>\n<p>Si la prime est connue, les paiements ou le rendement (taux d&rsquo;int\u00e9r\u00eat) peuvent \u00eatre calcul\u00e9s \u00e0 partir des donn\u00e9es connues. Il suffit de ne rien inscrire dans le champ de l&rsquo;information \u00e0 calculer.<\/p>\n<p>Le calcul peut \u00e9galement se faire \u00e0 partir de taux d&rsquo;int\u00e9r\u00eat variant dans le temps. Une table d&rsquo;int\u00e9r\u00eat (historique ou futur) peut \u00eatre cr\u00e9\u00e9e \u00e0 partir des dates et des changements de taux et utilis\u00e9e par la suite pour le calcul du taux variable.<\/p>\n<p><a id=\"2\" name=\"2\"><\/a><\/p>\n<hr \/>\n<h2><b class=\"texteOrange\"><span style=\"font-size: small;\">Calcul de l&rsquo;escompte sur l&rsquo;obligation<\/span><\/b><\/h2>\n<p>Une entreprise vend des obligations de huit (8) ans \u00e0 10 % ayant une valeur nominale de 1 000 000 le 1er janvier 2005, alors que le taux d&rsquo;int\u00e9r\u00eat du march\u00e9 est de 12 %. Quel est le rabais \u00e0 l&rsquo;\u00e9mission de ces obligations?<\/p>\n<p>Utiliser le calcul de la \u00ab\u00a0valeur actualis\u00e9e\u00a0\u00bb dans \u00ab\u00a0Autres calculs\u00a0\u00bb.<\/p>\n<p>Le paiement (versement) de 50 000 est calcul\u00e9 comme suit : 1 000 000 x 0,10 x 6\/12.<\/p>\n<p>La valeur \u00ab\u00a050 000\u00a0\u00bb est entr\u00e9e pour chacune des 16 p\u00e9riodes et la valeur nominale (1 000 000) est entr\u00e9e \u00e0 la date d&rsquo;\u00e9ch\u00e9ance. Le rabais (rendement) est donc de 898 941.<\/p>\n<p align=\"center\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/margill.com\/images\/bonds2-fr.gif\" alt=\"\" width=\"526\" height=\"397\" \/><\/p>\n<p><a id=\"3\" name=\"3\"><\/a><\/p>\n<hr \/>\n<h2><b class=\"texteOrange\"><span style=\"font-size: small;\">Obligations \u00e0 coupon z\u00e9ro<\/span><\/b><\/h2>\n<p>Quel est le rendement sur des obligations \u00e0 coupon z\u00e9ro de 10 ans vendues \u00e0 50 ($, \u20ac ou autre), soit 5 000 pour 10 000 obligations?<\/p>\n<p>Quelques manipulations sont requises pour ce calcul, mais elles peuvent se faire assez facilement.<\/p>\n<p>Il aurait aussi \u00e9t\u00e9 possible de calculer le prix \u00e0 partir d&rsquo;un rendement connu.<\/p>\n<p align=\"center\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/margill.com\/images\/bonds3-fr.gif\" alt=\"\" width=\"526\" height=\"401\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Voir aussi : Planification financi\u00e8re Financement Comptabilit\u00e9 Pr\u00eats Financement d&rsquo;\u00e9quipements Hypoth\u00e8ques L&rsquo;euro (\u20ac) a \u00e9t\u00e9 utilis\u00e9 dans ces exemples, mais n&rsquo;importe quelle autre devise peut \u00e9galement \u00eatre utilis\u00e9e (\u00a3, F, \u00a5, R, DA, Rs, etc.). Le premier calcul ci-dessous peut utiliser un taux fixe (Int\u00e9r\u00eat \u00e0 taux unique) ou des taux variables. Exemples concrets: Calcul [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"articles-fr","format":"standard","meta":{"_crdt_document":"","footnotes":""},"categories":[260,412,416],"tags":[],"class_list":["post-4734","post","type-post","status-publish","format-standard","hentry","category-base-de-connaissances","category-calculateur-dinteret-margill-standard-et-droit","category-gestionnaire-de-prets-margill"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Calcul d\u2019obligations financi\u00e8res | Margill<\/title>\r\n<meta name=\"description\" content=\"Outil de calcul d\u2019obligations, d\u2019int\u00e9r\u00eats et d&#039;\u00e9ch\u00e9anciers simples et complexes.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link 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