问题如下图:
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解释:
我是这样算的,为什么不从最后一期开始折现呢?
请问这个题为什么用不到seconyear的8%呢?为什么直接从first ye开始算?
$0.88634. $0.89007. $0.89032. Assuming investors are risk-neutral, the following cision tree illustrates the calculation of the priof a 2-yezero-coupon bonusing the expecterates given. The expectepriin one yefor the upper no is $0.93458, calculate$1 / 1.07. The expectepriin one yefor the lower no is $0.95238, calculate$1 / 1.05. Thus, the current priis $0.89007, calculateas: [0.5 x ($0.93458 / 1.06)] + [0.5 x ($0.95238 / 1.06)] = $0.89007 这种题目我总是搞不清楚应该用第几期的利率进行折现,有没有什么记忆口诀