如何去看100000是pv 还是 fv 很容易把pv和fv弄错

NO.PZ2023090201000033

问题如下：

An analyst gathers the following information about a bond that pays interest annually:

If the market discount rate is 5%, the market value of this bond is closest to:

选项：

A.$89,839.00 B.$97,277.00 C.$102,775.00

解释：

B is correct.

The price of the bond is the present value of the promised cash flows and is calculated as follows:

Price of bond = 4,000/(1 +5%)¹ + 4,000/(1+5%)² + 104,000/(1+5%)³ = 3,809.5238 + 3,628.1179 + 89,839.1102 = 97,276.7520 ≈ 97,277.

考点：YTM

解析：FV = 100,000, I/Y = 0.05, N = 3, PMT = 4,000, PV = 97,276.75 ≈ 97277

B is correct.

The price of the bond is the present value of the promised cash flows and is calculated as follows:

Price of bond = 4,000/(1 +5%)1 + 4,000/(1+5%)2 + 104,000/(1+5%)3 = 3,809.5238 + 3,628.1179 + 89,839.1102 = 97,276.7520 ≈ 97,277.

考点：YTM

解析：FV = 100,000, I/Y = 0.05, N = 3, PMT = 4,000, PV = 97,276.75 ≈ 97277

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1 个答案

吴昊_品职助教 · 2024年08月07日

嗨，爱思考的PZer你好：

1、现在表格中100,000前，明确指的是par value，par value代表的是债券面值。只要是面值，对应的就是FV。

2、PV代表的是债券的价格，也就是未来现金流的折现求和。现在题目就是要我们求market value of this bond，即求PV。

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NO.PZ2023090201000033 问题如下 analyst gathers the following information about a bonthpays interest annually: If the market scount rate is 5%, the market value of this bonis closest to: A.$89,839.00 B.$97,277.00 C.$102,775.00 B is correct.The priof the bonis the present value of the promisecash flows anis calculatefollows: Priof bon= 4,000/(1 +5%)1 + 4,000/(1+5%)2 + 104,000/(1+5%)3 = 3,809.5238 + 3,628.1179 + 89,839.1102 = 97,276.7520 ≈ 97,277. 考点YTM解析FV = 100,000, I/Y = 0.05, N = 3, PMT = 4,000, PV = 97,276.75 ≈ 97277 analyst gathers the following information about a bonthpays interest annually:If the market scount rate is 5%, the market value of this bonis closest to:

2024-05-14 15:26 1 · 回答

如何去看100000是pv 还是 fv 很容易把pv和fv弄错

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