问题如下:
Maureen is assessing the value of an infrequently traded bond with an annual coupon of 6%.The bond has 6 years to maturity. Maureen has collected yields-to-maturity for more liquid bonds with the same credit rating:
l5% coupon, 8 years to maturity, yielding 8.03%.
l6% coupon, 5 years to maturity, yielding 6.50%.
The infrequently traded bond is most likely to trade at:
选项:
A.par value.
B.a premium to par value.
C.a discount to par value.
解释:
C is correct.
Using linear interpolation, the yield on a bond with six years to maturity should be 6.50%+(1/3)(8.03%−6.50%)=7.01%. A bond with a 6% coupon and a yield of 7.01% is at a discount to par value.
老师可以解释一下这道题吗