表格内容没用?不需要分段计算?
问题如下图:
选项:
A.
B.
C.
解释:
NO.PZ2016031001000077问题如下 A bonwith 5 years remaining until maturity is currently trang for 101 per 100 of pvalue. The bonoffers a 6% coupon rate with interest paisemiannually. The bonis first callable in 3 years, anis callable after thte on coupon tes accorng to the following schele: The bons annuyielto-maturity is closest to:A.2.88%.B.5.77%.C.5.94%. B is correct.The yielto-maturity is 5.77%. The formula for calculating this bons yielto-maturity is: PV=PMT(1+r)1+PMT(1+r)2+PMT(1+r)3+⋯+PMT(1+r)9+PMT+FV(1+r)10PV=\frac{PMT}{{(1+r)}^1}+\frac{PMT}{{(1+r)}^2}+\frac{PMT}{{(1+r)}^3}+\cts+\frac{PMT}{{(1+r)}^9}+\frac{PMT+FV}{{(1+r)}^{10}}PV=(1+r)1PMT+(1+r)2PMT+(1+r)3PMT+⋯+(1+r)9PMT+(1+r)10PMT+FV101=3(1+r)1+3(1+r)2+3(1+r)3+⋯+3(1+r)9+3+100(1+r)10101=\frac3{{(1+r)}^1}+\frac3{{(1+r)}^2}+\frac3{{(1+r)}^3}+\cts+\frac3{{(1+r)}^9}+\frac{3+100}{{(1+r)}^{10}}101=(1+r)13+(1+r)23+(1+r)33+⋯+(1+r)93+(1+r)103+100r = 0.02883To arrive the annualizeyielto-maturity, the semiannurate of 2.883% must multiplietwo. Therefore, the yielto-maturity is equto 2.883% × 2 = 5.77% (roun.考点YTM解析债券每年付息两次,可利用计算器N=5×2=10,PMT=100×6%/2=3,PV= -101,FV=100,求得I/Y=2.88,再乘2得5.77%,故B正确。 在101行权是第四年,n为什么不等于8而是10呢
请问如何从题干中得知一直持有至到期?
n=5*2=10 pv=-101 fv=100 pmt=100*0.06/2=3,求出i/y=2.883 2.883*2=5.77 那么表格里面的enof the year和call price对于这道题目有意义吗? 仅仅只是干扰项?
如果Ytc的话,需要怎么计算呢?
所以fv是选择用-101,还是callable price102呢?以及原因是什么