NO.PZ2020011303000187
问题如下:
An annuity that pays USD 1 on each coupon payment date of a five-year Treasury bond is worth USD 4.76. The five-year par rate is 4%. What is the value of the bond if it pays a coupon of 6%.
选项:
解释:
题目问:一个年金每次付息1USD,5年期的债券价值4.76USD,5年期的par rate4%。求coupon rate是6%的债券的价格。
The value is 100 + (6-4)/2×4.76 = 104.76
An annuity that pays USD 1 on each coupon payment date of a five-year Treasury bond is worth USD 4.76.这句话能翻译下吗?
到底说的是年金还是 Treasury bond,没明白。谢谢。