问题如下图:为什么选择第一个选项呢?两者之间如何转换?
选项:
A.
B.
C.
解释:
NO.PZ2016031002000028 问题如下 The effective annuyielof investment is 9%. Whis the yielon a bonequivalent basis? A.8.8% B.4.4% C.9.0% A is correct.The first step is to convert the Eto effective semiannuyiel (1+9%)0.5-1=4.403% ;the seconstep is to uble it: 2×4.403%=8.806%考点APR解析这道题默认是半年付息一次的债券,因为在美国bon般是半年付息一次。所以(1+BEY/2)2 =1+EAR,经过转换可以得到BEY= [(1+EAR)0.5 -1] × 2=8.806%,故A正确。 为啥不是(1+9%/2)0.5-1=4.403% ?
NO.PZ2016031002000028 谢谢~~~~~~~~~~~~~~~~~
NO.PZ2016031002000028 什么时候用 BEY=[(F-P)/P]*(365/t)呢
NO.PZ2016031002000028 第一个式子为什么不是 (1+4.5%)的平方?
4.4% 9.0% A is correct. The first step is to convert the Eto effective semiannuyiel (1+9%)0.5-1=4.403% ; the seconstep is to uble it: 2×4.403%=8.806%如何看出出题人就默认了一年付息2次?