这道题哪里说明了面值是100？？

问题如下：

Bond C has a time-to-maturity of 3 years and its coupon rate is 8%. The interests are paid annually.

The spot rates are shown as below:

Calculate the price of Bond C based on spot rates.

选项：

A.

100.00

B.

97.73

C.

101.35

解释：

B is correct.

$PV=\frac{PMT}{1+S_1}+\frac{PMT}{(1+S_2)^2}+\frac{PMT+Par}{(1+S_3)^3}=\frac8{1.07}+\frac8{1.08^2}+\frac{108}{1.09^3}$

=97.73

考点：Pricing Bonds with Spot Rates

解析：通过未来现金流折现求和，第一年的现金流(8)用S₁ (7%)折现，第二年的现金流(8)用S₂ (8%)折现，第三年的现金流(8+100)用S₃ (9%)折现，可得债券C价格为97.73，故选项B正确。