NO.PZ2017102901000066
问题如下：
A firm issues a bond with a coupon rate of 5.00% when the market interest rate is 5.50% on bonds of comparable risk and terms. One year later, the market interest rate increases to 6.00%. Based on this information, the effective interest rate is:
选项：
A.5.00%.
B.5.50%.
C.6.00%
解释：
B is correct.
The market interest rate at the time of issuance is the effective interest rate that the company incurs on the debt. The effective interest rate is the discount rate that equates the present value of the coupon payments and face value to their selling price. Consequently, the effective interest rate is 5.50%.
之前一个同学问的：我记得课上何老师说effective int rate method就是反应bond的fair value，会随着市场利率改变而涨涨跌跌，所以利率并不是bond刚发行时候的历史利率。但是这道题又是说effective int rate method就是发行时候的历史利率？到底该如何区分呢？
老师回答说：所以这个r就是effective interest rate。何老师说的涨涨跌跌，是说不同时期发行的债券的市场利率在变动，因此不同债券的effective interest rate也在变化。
何老师说的那个是一个债券的BV和MV 之间吧，我记得是同一个债券啊。和上述同学的疑问相同，麻烦具体解释下。
