NO.PZ2016012102000150
问题如下:
When market intertest rates are 8%, a company issues a $1 million bond with a 10% coupon rate, 5 years to maturity, and the interest is paid on an annual.
According to the information, which of the following statements about the bond is correct?
选项:
A.The initial book value of the bonds is $900,000.
B.The initial book value of the bonds is $1,079,854.
C.The initial book value of the bonds is $1,000,000.
解释:
B is correct.
N=5
I/Y=8
PMT=$1,000,000 × 10%=$100,000
FV=$1,000,000
Then CPT=$1,079,854
Option C is not the correct answer, because the coupon rate> the market rate, the bond is a premium bond.
你好老师,
关于book value 我认为的是bond的face value,如果按照答案,应该是市场的market value, 请问这个理解对不对?