NO.PZ2022061303000035
问题如下:
Stellar Corp. recently issued $100 par value deferred coupon bonds, which will make no coupon payments in the next four years. Regular annual coupon payments at a rate of 8% will then be made until the bonds mature at the end of 10 years. If the bonds are currently priced at $87.00, their yield to maturity is closest to:
选项:
A.6.0%.
B.8.0%.
C.10.1%.
解释:
A is correct. The yield to maturity (r) is computed by solving for r in the following equation:
87.00 = 8/(1 + r)5 + 8/(1 + r)6 + 8/(1 + r)7 + 8/(1 + r)8 + 8/(1 + r)9 + 108/(1 + r)10which gives a yield to maturity of 6.0%.
考点:YTM
解析:可以利用计算器:CF0= -87,C01=0,F01=4,C02=8,F02=5,C03=108,F03=1,CPT→IRR=6%