# Issue on pricing bond using RQuantLib

trying to pricing a simple bond using RQuantLib, but cannot get the right values. For example, consider a bond with 2% annual coupon rate and flat interest rate of 3%, a 5 year maturity, and \$100 face value. I can get the$\textrm{NPV} = 95.42029\$ by simple calculation:

$$2/(1+0.03) + 2/(1+0.03)^2 + 2/(1+0.03)^3 + 2/(1+0.03)^4 + 102/(1+0.03)^5.$$

However, when I use RQuantLib:

bond <- list(settlementDays=1,
issueDate=as.Date("2010-02-16"),
faceAmount=100,
accrualDayCounter='ActualActual.Bond',
schedule <- list(effectiveDate=as.Date("2010-02-16"),
maturityDate=as.Date("2015-02-16"),
period='Annual',
calendar='UnitedStates/GovernmentBond',
dateGeneration='Backward',
endOfMonth=0)
calc=list(dayCounter='ActualActual.Bond',
compounding='Compounded',
freq='Annual',
durationType='Modified')
coupon.rate <- c(0.02)
settleDate=as.Date('2010-02-17'),
dt=.25,
interpWhat="discount",
interpHow="loglinear")
setEvaluationDate(as.Date("2010-02-16"))
discountCurve.flat <- DiscountCurve(params, list(flat=0.03))
FixedRateBond(bond,
coupon.rate,
schedule,
calc,
discountCurve=discountCurve.flat)


I got the following results:

Concise summary of valuation for FixedRateBond
Net present value :  95.22618
clean price :  95.221
dirty price :  95.226
accrued coupon :  0.0055556
yield :  0.030454
duration :  4.6575
settlement date :  2010-02-17
cash flows :
Date Amount
2011-02-16      2
2012-02-16      2
2013-02-16      2
2014-02-16      2
2015-02-16      2
2015-02-16    100


Another strange thing happens when I change the accrualDayCounter = Actual365NoLeap. I should expect the accrued coupon = 2/365 = 0.005479 (because only 1-day accrual). However, RQuantLib still gives 0.0055556 (=2/360). It seems changing the daycounter does not have any effect. What am I doing wrong here? Thank you for your help.