NO.PZ2018062010000027
问题如下:
The discount rate of a 180-day banker’s acceptance for a 360-day year quoted at a bond equivalent yield of 6.72% is closest to:
选项:
A.
6.62%
B.
6.51%
C.
6.42%
解释:
C is correct.
Bond equivalent yield (BEY) for money market security is yield stated on a 365-day add-on rate basis.
PV=96.79
PV=100*[1-(180/360)*discount rate]=96.79
discount rate=0.0642
考点:BEY
解析:本题考点是discount yield和BEY之间的转换。我们通过BEY反求出PV,即PV=96.79。注意BEY中的year要代入365,因为BEY是365天的AOR。
有了FV和PV再代入上述第二个公式从而算得discount yield,即discount rate=0.0642。注意,discount yield中Year应该代入题目已知条件360。
100*(1-0.0672*(180/360))=96.64 ((100-96.64)/96.64)*(365/180)=0.0705 怎么我算的数是这么多?按了几遍计算器都是这么多呀