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小鸣哥哥 · 2021年04月11日

book value 与market value

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?

1 个答案
已采纳答案

纠纠_品职答疑助手 · 2021年04月11日

嗨,爱思考的PZer你好:


book value 是指记在账本上的value,债券发行期初的时候book value 在数值上是 market value。


bond face value 是指债券的面值,market value是市场价值,这是三个概念,同学需要注意分辨。


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