NO.PZ2018062006000058
问题如下：
The detailed information of bond X and bond Y can be described as:
Coupon rate of bond X is 6%, and that of the bond Y is 8%;
Both of the bonds have the maturity of 3 years;
The price of bond X is 102, and the price of bond Y is 110.
We know that interest is paid annually, which bond has a lower yield-to-maturity?
选项：
A.Bond Y
B.Bond X
C.The yield-to-maturity of X and Y are equal
解释：
A is correct.
考点：bond valuation
解析：利用计算器：
Bond X: N=3; PV= -102; PMT=6; FV=100; → I/Y=5.26
Bond Y: N=3; PV= -110; PMT=8; FV=100; → I/Y=4.37
债券Y的YTM更低，故选项A正确。
RT
