问题如下:
A two-year bond that pays coupons semi-annually at the rate of 7% per year has a market price of 103. What is the bond's yield measured with semi-annual compounding?
选项:
解释:
To determine the yield, y, we must solve:
By trial and error (or using Solver) the solution is y = 0.053975. The yield is 5.3975%.
为什么债券面值是100呢