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Avalon · 2024年09月10日

麻烦老师,帮忙看下这题

NO.PZ2023120801000007

问题如下:

Relative to a fully amortized bond, the coupon payments of an otherwise similar partially amortized bond are

选项:

A.

lower or equal

B.

equal

C.

higher or equal

解释:

Correct Answer: C

Except at maturity, the principal repayments are lower for a partially amortized bond than for an otherwise similar fully amortized bond. Consequently, the principal amounts outstanding and, therefore, the amounts of interest payments are higher for a partially amortized bond than for a fully amortized bond, all else equal. The only exception is the first interest payment, which is the same for both repayment structures. This is because no principal repayment has been made by the time the first coupon is paid.

解析部分没看懂🤣讲义上有吗/认真脸

1 个答案
已采纳答案

品职答疑小助手雍 · 2024年09月11日

嗨,努力学习的PZer你好:


基础班讲义里是有的,20页,fully和partial的区别在于本金是全部在期间支付摊完,还是只摊一部分(剩余一部分本金期末支付)。

所以partially amortized bond期间支付的本金(比fully的)少,本金剩余的就多,计息的本金就高一些,所以coupon也会高一些。

只是在期初的时候本金outstanding一样,所以第一期计息的时候付的利息一样。

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