为什么零息债券的折现率高于附息债

问题如下：

The term structure of interest rates is upward sloping. Put the following in order of magnitude:

The 5-year zero rate = a;

The yield on a 5-year coupon-bearing bond = b;

The forward rate corresponding to the period between 5 and 5.25 years in the future = c.

What is the answer to this question when the term structure of interest rates is upward-sloping?

选项：

A.

c>a>b

B.

a>c>b

C.

c>b>a

D.

b>a>c

解释：