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77 · 2021年04月08日

a company issues a $1 million bond

NO.PZ2016012102000153

问题如下:

When market interest rate is 7%, a company issues a $1 million bond with maturity of 3-year, a 5% coupon rate, and annual interest payments.

Which of the following statements is the most correct?

选项:

A.

 The total interest expense reported by the issuer over the life of the bond will be $150,000.

B.

The total interest expense reported by the issuer over the life of the bond will be $202,486.32.

C.

The total interest expense reported by the issuer over the life of the bond will be $52,486.32.

解释:

B is correct.

Method 1:

 
The sum of Interest expenses=$66,325.96+$67,468.77+$68,691.59=$202,486.32
 
Method 2:
 

Coupon payments + discount interest = coupon payments + (face value - issue value)= $150,000 + ($1,000,000 -  $947,513.68) = $202,486.32
.

a company issues a $1 million bond 怎么理解这句话?我感觉的意思像是1mil是发行价格呢,怎么就变成最后的账面价格了?

1 个答案

纠纠_品职答疑助手 · 2021年04月09日

嗨,爱思考的PZer你好:


1 million 是发行的面值,第三年是最后一年,所以账面价值要回归面值,因为我们最后需要还的是债券的面值。

相关知识点同学可以复习下 Bonds Issued at A Discount or Premium 这一节,比较难,需要自己顺一下哦

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