问题如下:
A bond with 5 years remaining until maturity is currently trading for 101 per 100 of par value. The bond offers a 6% coupon rate with interest paid semiannually. The bond is first callable in 3 years, and is callable after that date on coupon dates according to the following schedule:
The bond’s annual yield-to-maturity is closest to:
选项:
A.2.88%.
B.5.77%.
C.5.94%.
解释:
B is correct.
The yield-to-maturity is 5.77%. The formula for calculating this bond’s yield-to-maturity 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
r = market discount rate, or required rate of return per period
r = 0.02883
To arrive at the annualized yield-to-maturity, the semiannual rate of 2.883% must be multiplied by two. Therefore, the yield-to-maturity is equal to 2.883% × 2 = 5.77% (rounded).
请问如何从题干中得知一直持有至到期?