这种类型题目,最后要不要加coupon取决于什么?
选项:
A.
B.
C.
解释:
发亮_品职助教 · 2018年06月08日
某时刻的债券价值,是未来所有现金流折现求和的值,这就包括未来的所有Coupon,和债券终值。
所以折现的有:未来的Coupon + 债券终值。
这道题让求的是Time 1 upper node 的 bond value,即让求的是这个node的债券价值。
所以time 1之后的所有未来现金流折现就好,后面每个节点的coupon都要算。
而time 1 upper node的coupon不是未来现金流,是此刻的coupon,不是此刻债券价值里折现应该包括的部分。
如果要计算time 0的债券价值,那么time 1的coupon就属于未来现金流了,那就要用time 1的债券价值(债券终值)加上time 1的coupon往前折现。
NO.PZ201712110200000203 问题如下 Baseon Exhibits 3 an4, the value of BonC the upper no Time 1 is closest to: A.97.1957 B.99.6255 C.102.1255 B is correct. The bonvalue the upper no Time 1 is closest to 99.6255. The cash flow Time 2 is 102.5, the remption of pvalue (100) plus the fincoupon payment (2.5). Using backwarinction, we calculate the present value of the bonthe upper no of Time 1 102.5/1.028853 = 99.6255. 为啥value不用加coupon, 也可以是time 1付息前的价值啊
NO.PZ201712110200000203问题如下Baseon Exhibits 3 an4, the value of BonC the upper no Time 1 is closest to:A.97.1957B.99.6255C.102.1255B is correct. The bonvalue the upper no Time 1 is closest to 99.6255. The cash flow Time 2 is 102.5, the remption of pvalue (100) plus the fincoupon payment (2.5). Using backwarinction, we calculate the present value of the bonthe upper no of Time 1 102.5/1.028853 = 99.6255.我算出来的是99.9292,跟答案小数差了一点
NO.PZ201712110200000203 问题如下 Baseon Exhibits 3 an4, the value of BonC the upper no Time 1 is closest to: A.97.1957 B.99.6255 C.102.1255 B is correct. The bonvalue the upper no Time 1 is closest to 99.6255. The cash flow Time 2 is 102.5, the remption of pvalue (100) plus the fincoupon payment (2.5). Using backwarinction, we calculate the present value of the bonthe upper no of Time 1 102.5/1.028853 = 99.6255. 请问这个两年的二叉树,拿到coupon+par的这一年是第二年吗? 我一直以为两年的二叉树是time 0, time 1, time2, 然后time 2之后拿到coupon+par,再用time 2 的利率开始折。
99.6255 102.1255 B is correct. The bonvalue the upper no Time 1 is closest to 99.6255. The cash flow Time 2 is 102.5, the remption of pvalue (100) plus the fincoupon payment (2.5). Using backwarinction, we calculate the present value of the bonthe upper no of Time 1 102.5/1.028853 = 99.6255.看了大家提问的解析,还是没看懂这里为什么不加上2.5的coupon,如果不单列,也不用加上是吧。
99.6255 102.1255 B is correct. The bonvalue the upper no Time 1 is closest to 99.6255. The cash flow Time 2 is 102.5, the remption of pvalue (100) plus the fincoupon payment (2.5). Using backwarinction, we calculate the present value of the bonthe upper no of Time 1 102.5/1.028853 = 99.6255.关于这一条是否加当期的coupon,我没有看懂老师们的解答,我没有在二叉树中看到单列的coupon,所以我这题会选择包含coupon的102.1255,感觉没有明白什么是单列的coupon?