问题如下图：
选项：
A. 
B. 
C. 
解释：
我怎么觉得逻辑是：[0.02*(0.5因子+1.5因子+2.5因子+3.5因子)+1*3.5因子-103/100]*NP，但上面画图题中确是[0.02*(0.5因子+1.5因子+2.5因子+3.5因子)+1.02*0.95255-103/100]*NP，为什么是1.02*0.95255？
包包_品职助教 · 2019年05月17日
同学你好，上面画图题中确是[0.02*(0.5因子+1.5因子+2.5因子+3.5因子)+1.02*0.95255这个画图你说的是答案还是？
答案中是一期一期算的，相当于bond 端是
0.02*(0.5因子+1.5因子+2.5因子+3.5因子)+1.02*4.5折现因子，因为这个swap是5年期的，现在是0.5时刻，那么后续还有5笔现金流需要折现。
正确的逻辑是：[0.02*(0.5因子+1.5因子+2.5因子+3.5因子+4.5折现因子)+1*4.5因子-103/100]*NP，
或者[0.02*(0.5因子+1.5因子+2.5因子+3.5因子）+1.02*4.5因子-103/100]*NP，
NO.PZ201903040100000104 有点难以理解这道题 考试会考这么难吗
NO.PZ201903040100000104 -$781,323. -$181,323. B is correct. Te value of equity swis calculateVt=FB(C0)−(stst)NAEV_t=FB(C_0)-(\frac{s_t}{s_t})NA_E\\\\Vt=FB(C0)−(stst)NAE The swwinitiatesix months ago, so the first reset hnot yet passe thus, there are five remaining cash flows for this equity swap. The fair value of the swis terminecomparing the present value of the impliefixe rate bonwith the return on the equity inx. The fixeswrate of 2.00%, the swnotionamount of $20,000,000, anthe present value factors in Exhibit 5 result in a present value of the impliefixerate bons cash flows of $19,818,677: The value of the equity leg of the swis calculate(103/100)($20,000,000)= $20,600,000. Therefore, the fair value of the equity swap, from the perspective of the bank (receive-fixe pay-equity party) is calculateVt = $19,818,677 - $20,600,000 = -781,323老师，请问下，这里的0.02是怎么算出来的，为什么我算出来的是0.2，2%*20*1/2=0.2，好奇怪
你好，请问可以照老师上课的画图和列公式方法一遍吗谢谢。
请问这个折现的计算为什么可以按单利，题目没有明确说明呀？