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Linda · 2024年04月18日

计算器结果为什么不对

  1. CFA I
  2. Quantitative

NO.PZ2023052407000006

问题如下：

Grupo Ignacia issued 10-year corporate bonds four years ago. The bonds pay an annualized coupon of 10.7 percent on a semiannual basis, and the current price of the bonds is MXN97.50 per MXN100 of par value. The YTM of the bonds is closest to:

选项：

A.

11.28 percent.

B.

11.50 percent.

C.

11.71 percent

解释：

A is correct. The YTM is calculated by solving for the RATE spreadsheet function with the following inputs: number of periods of 12 (=6 × 2), coupon payments of 5.35 (=10.7/2), PV of −97.50, and FV of 100. The resulting solution for RATE of 5.64 percent is in semiannual terms, so multiply by 2 to calculate annualized YTM of 11.28 percent.

B is incorrect, as 11.50 percent is the result if number of periods used is eight, instead of 12. C is incorrect, as 11.71 percent is the result if the number of periods used is 6, instead of 12.

按照题目解析输入计算器，得出I/Y是5.5%，乘以2是11.01%

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1 个答案

品职助教_七七 · 2024年04月18日

嗨，爱思考的PZer你好：


根据答案解析中对计算器参数的描述：“number of periods of 12 (=6 × 2), coupon payments of 5.35 (=10.7/2), PV of −97.50, and FV of 100. ”，据此输入计算器：

N=12，PMT=5.35，PV = −97.50, FV = 100，

如果是这个按键，CPT I/Y 的正确结果应为5.6424

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