问题如下:
Based upon the given sequence of spot rates, the price of Bond Y is closest to:
选项:
A. 87.50.
B. 92.54.
C. 92.76.
解释:
C is correct.
The bond price is closest to 92.76. The formula for calculating this bond price is:
where:
PV = present value, or the price of the bond
PMT = coupon payment per period
FV = future value paid at maturity, or the par value of the bond
Z1= spot rate, or the zero-coupon yield, or zero rate, for period 1
Z2= spot rate, or the zero-coupon yield, or zero rate, for period 2
Z3=spot rate, or the zero-coupon yield, or zero rate, for period 3
PV = 6.48 + 5.89 + 80.39 = 92.76
这题没看懂?题目中两列都是time-to-maturity