开发者:上海品职教育科技有限公司隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

学习体验
App下载
手机上的品职教育

随时随地学习课程，支持音视频下载！
- 扫码下载品职教育APP
进入课程
登录 | 注册

veronica_gxy · 2021年05月04日

麻烦翻译一下题目

NO.PZ2016031001000084

问题如下：

The bond equivalent yield of a 180-day banker’s acceptance quoted at a discount rate of 4.25% for a 360-day year is closest to:

选项：

A.

4.31%.

B.

4.34%.

C.

4.40%.

解释：

C is correct.

The bond equivalent yield is closest to 4.40%. The present value of the banker’s acceptance is calculated as:

$PV=FV\times{(1-\frac{Days}{Year}\times DR)}$

where:

PV = present value, or price of the money market instrument

FV = future value paid at maturity, or face value of the money market instrument

Days = number of days between settlement and maturity

Year = number of days in the year

DR = discount rate, stated as an annual percentage rate

$PV=100\times{(1-\frac{Days}{Year}\times DR)}$

$PV=100\times{(1-\frac{180}{360}\times0.0425)}$

PV = 100 × (1 – 0.02125)

PV = 100 × 0.97875

PV = 97.875

The bond equivalent yield (AOR) is calculated as:

$AOR={(\frac{Year}{Days})}\times{(\frac{FV-PV}{PV})}$

where:

PV = present value, principal amount, or the price of the money market instrument

FV = future value, or the redemption amount paid at maturity including interest

Days = number of days between settlement and maturity

Year = number of days in the year

AOR = add-on rate (bond equivalent yield), stated as an annual percentage rate

$AOR={(\frac{365}{180})}\times{(\frac{100-PV}{PV})}$

$AOR={(\frac{365}{180})}\times{(\frac{100-97.875}{97.875})}$

AOR = 2.02778 × 0.02171

AOR = 0.04402, or approximately 4.40%

Note that the PV is calculated using an assumed 360-day year and the AOR (bond equivalent yield) is calculated using a 365-day year.

题目没读懂、麻烦翻译一下题目

添加评论

0
0

1 个答案

已采纳答案

吴昊_品职助教 · 2021年05月04日

嗨，爱思考的PZer你好：

同学你好：

这里的考点是discount yield和 add-on yield之间的转换。已知discount rate，求BEY。考察的就是下图中的两个公式。

1.题目给出了discount rate=4.25%，代入下图第一个公式：可以算出PV=100×（1-180/360×4.25%）=97.875。

2.然后通过计算出来的PV再计算BEY（用下图第二个公式的变形）。BEY就是365天形式的add-on-yield，所以第二个公式中的year要代入365。

BEY=365/180×(100-97.875)/97.875=4.40%

----------------------------------------------
就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

添加评论

0
0

1
回答
0
关注
677
浏览

我要回答关注问题

相关问题

NO.PZ2016031001000084 问题如下 The bonequivalent yielof a 180-y banker’s acceptanquotea scount rate of 4.25% for a 360-y yeis closest to: A.4.31%. B.4.34%. C.4.40%. C is correct.The bonequivalent yielis closest to 4.40%. The present value of the banker’s acceptanis calculateas:PV=FV×(1−ysYear×)PV=FV\times{(1-\frac{ys}{Year}\times )}PV=FV×(1−Yearys×)PV=100×(1−ysYear×)PV=100\times{(1-\frac{ys}{Year}\times )}PV=100×(1−Yearys×)PV=100×(1−180360×0.0425)PV=100\times{(1-\frac{180}{360}\times0.0425)}PV=100×(1−360180×0.0425)PV = 100 × (1 – 0.02125)PV = 100 × 0.97875PV = 97.875The bonequivalent yiel(AOR) is calculateas:AOR=(Yearys)×(FV−PVPV)AOR={(\frac{Year}{ys})}\times{(\frac{FV-PV}{PV})}AOR=(ysYear)×(PVFV−PV)AOR=(365180)×(100−PVPV)AOR={(\frac{365}{180})}\times{(\frac{100-PV}{PV})}AOR=(180365)×(PV100−PV)AOR=(365180)×(100−97.87597.875)AOR={(\frac{365}{180})}\times{(\frac{100-97.875}{97.875})}AOR=(180365)×(97.875100−97.875)AOR = 2.02778 × 0.02171AOR = 0.04402, or approximately 4.40%Note ththe PV is calculateusing assume360-y yeanthe AOR (bonequivalent yiel is calculateusing a 365-y year.考点YielMeasures解析考查的是scount yiel a-on yiel间的转换。1.题目给出了scount rate=4.25%，可以算出PV=100×（1-180/360×4.25%）=97.875。2.然后通过计算出来的PV再计算BEY，BEY就是365天形式的a-on-yielBEY=365/180×(100-97.875)/97.875=4.40%，故C正确。为什么不是100/(1+180/360×4.25%)

2024-10-26 16:50 2 · 回答

NO.PZ2016031001000084 问题如下 The bonequivalent yielof a 180-y banker’s acceptanquotea scount rate of 4.25% for a 360-y yeis closest to: A.4.31%. B.4.34%. C.4.40%. C is correct.The bonequivalent yielis closest to 4.40%. The present value of the banker’s acceptanis calculateas:PV=FV×(1−ysYear×)PV=FV\times{(1-\frac{ys}{Year}\times )}PV=FV×(1−Yearys×)PV=100×(1−ysYear×)PV=100\times{(1-\frac{ys}{Year}\times )}PV=100×(1−Yearys×)PV=100×(1−180360×0.0425)PV=100\times{(1-\frac{180}{360}\times0.0425)}PV=100×(1−360180×0.0425)PV = 100 × (1 – 0.02125)PV = 100 × 0.97875PV = 97.875The bonequivalent yiel(AOR) is calculateas:AOR=(Yearys)×(FV−PVPV)AOR={(\frac{Year}{ys})}\times{(\frac{FV-PV}{PV})}AOR=(ysYear)×(PVFV−PV)AOR=(365180)×(100−PVPV)AOR={(\frac{365}{180})}\times{(\frac{100-PV}{PV})}AOR=(180365)×(PV100−PV)AOR=(365180)×(100−97.87597.875)AOR={(\frac{365}{180})}\times{(\frac{100-97.875}{97.875})}AOR=(180365)×(97.875100−97.875)AOR = 2.02778 × 0.02171AOR = 0.04402, or approximately 4.40%Note ththe PV is calculateusing assume360-y yeanthe AOR (bonequivalent yiel is calculateusing a 365-y year.考点YielMeasures解析考查的是scount yiel a-on yiel间的转换。1.题目给出了scount rate=4.25%，可以算出PV=100×（1-180/360×4.25%）=97.875。2.然后通过计算出来的PV再计算BEY，BEY就是365天形式的a-on-yielBEY=365/180×(100-97.875)/97.875=4.40%，故C正确。 The bonequivalent yielof a 180-y banker’s acceptanquotea scount rate of 4.25% ，求PV为什么不是(FV-PV)/FV * 365/180 ?这里不是说的BEY的scount rate么？后面for a 360-y yeis closest to不是说的算360天的AOR么？

2024-05-27 21:10 1 · 回答

NO.PZ2016031001000084 问题如下 The bonequivalent yielof a 180-y banker’s acceptanquotea scount rate of 4.25% for a 360-y yeis closest to: A.4.31%. B.4.34%. C.4.40%. C is correct.The bonequivalent yielis closest to 4.40%. The present value of the banker’s acceptanis calculateas:PV=FV×(1−ysYear×)PV=FV\times{(1-\frac{ys}{Year}\times )}PV=FV×(1−Yearys×)PV=100×(1−ysYear×)PV=100\times{(1-\frac{ys}{Year}\times )}PV=100×(1−Yearys×)PV=100×(1−180360×0.0425)PV=100\times{(1-\frac{180}{360}\times0.0425)}PV=100×(1−360180×0.0425)PV = 100 × (1 – 0.02125)PV = 100 × 0.97875PV = 97.875The bonequivalent yiel(AOR) is calculateas:AOR=(Yearys)×(FV−PVPV)AOR={(\frac{Year}{ys})}\times{(\frac{FV-PV}{PV})}AOR=(ysYear)×(PVFV−PV)AOR=(365180)×(100−PVPV)AOR={(\frac{365}{180})}\times{(\frac{100-PV}{PV})}AOR=(180365)×(PV100−PV)AOR=(365180)×(100−97.87597.875)AOR={(\frac{365}{180})}\times{(\frac{100-97.875}{97.875})}AOR=(180365)×(97.875100−97.875)AOR = 2.02778 × 0.02171AOR = 0.04402, or approximately 4.40%Note ththe PV is calculateusing assume360-y yeanthe AOR (bonequivalent yiel is calculateusing a 365-y year.考点YielMeasures解析考查的是scount yiel a-on yiel间的转换。1.题目给出了scount rate=4.25%，可以算出PV=100×（1-180/360×4.25%）=97.875。2.然后通过计算出来的PV再计算BEY，BEY就是365天形式的a-on-yielBEY=365/180×(100-97.875)/97.875=4.40%，故C正确。 : (FV-PV)/FV *360/180=4.25, 得出PV=-7.5FVAOR （FV-PV）/PV* 365/180=? 代入PV=-7.5FV，求AOR这样做为啥不对？为啥要用算PV反算这种才能算

2024-04-25 10:06 1 · 回答

NO.PZ2016031001000084问题如下The bonequivalent yielof a 180-y banker’s acceptanquotea scount rate of 4.25% for a 360-y yeis closest to:A.4.31%.B.4.34%.C.4.40%. C is correct.The bonequivalent yielis closest to 4.40%. The present value of the banker’s acceptanis calculateas:PV=FV×(1−ysYear×)PV=FV\times{(1-\frac{ys}{Year}\times )}PV=FV×(1−Yearys×)PV=100×(1−ysYear×)PV=100\times{(1-\frac{ys}{Year}\times )}PV=100×(1−Yearys×)PV=100×(1−180360×0.0425)PV=100\times{(1-\frac{180}{360}\times0.0425)}PV=100×(1−360180×0.0425)PV = 100 × (1 – 0.02125)PV = 100 × 0.97875PV = 97.875The bonequivalent yiel(AOR) is calculateas:AOR=(Yearys)×(FV−PVPV)AOR={(\frac{Year}{ys})}\times{(\frac{FV-PV}{PV})}AOR=(ysYear)×(PVFV−PV)AOR=(365180)×(100−PVPV)AOR={(\frac{365}{180})}\times{(\frac{100-PV}{PV})}AOR=(180365)×(PV100−PV)AOR=(365180)×(100−97.87597.875)AOR={(\frac{365}{180})}\times{(\frac{100-97.875}{97.875})}AOR=(180365)×(97.875100−97.875)AOR = 2.02778 × 0.02171AOR = 0.04402, or approximately 4.40%Note ththe PV is calculateusing assume360-y yeanthe AOR (bonequivalent yiel is calculateusing a 365-y year.考点YielMeasures解析考查的是scount yiel a-on yiel间的转换。1.题目给出了scount rate=4.25%，可以算出PV=100×（1-180/360×4.25%）=97.875。2.然后通过计算出来的PV再计算BEY，BEY就是365天形式的a-on-yielBEY=365/180×(100-97.875)/97.875=4.40%，故C正确。这道题在算pv的时候为什么会选择180而不是360。

2024-02-10 12:50 1 · 回答

NO.PZ2016031001000084 问题如下 The bonequivalent yielof a 180-y banker’s acceptanquotea scount rate of 4.25% for a 360-y yeis closest to: A.4.31%. B.4.34%. C.4.40%. C is correct.The bonequivalent yielis closest to 4.40%. The present value of the banker’s acceptanis calculateas:PV=FV×(1−ysYear×)PV=FV\times{(1-\frac{ys}{Year}\times )}PV=FV×(1−Yearys×)PV=100×(1−ysYear×)PV=100\times{(1-\frac{ys}{Year}\times )}PV=100×(1−Yearys×)PV=100×(1−180360×0.0425)PV=100\times{(1-\frac{180}{360}\times0.0425)}PV=100×(1−360180×0.0425)PV = 100 × (1 – 0.02125)PV = 100 × 0.97875PV = 97.875The bonequivalent yiel(AOR) is calculateas:AOR=(Yearys)×(FV−PVPV)AOR={(\frac{Year}{ys})}\times{(\frac{FV-PV}{PV})}AOR=(ysYear)×(PVFV−PV)AOR=(365180)×(100−PVPV)AOR={(\frac{365}{180})}\times{(\frac{100-PV}{PV})}AOR=(180365)×(PV100−PV)AOR=(365180)×(100−97.87597.875)AOR={(\frac{365}{180})}\times{(\frac{100-97.875}{97.875})}AOR=(180365)×(97.875100−97.875)AOR = 2.02778 × 0.02171AOR = 0.04402, or approximately 4.40%Note ththe PV is calculateusing assume360-y yeanthe AOR (bonequivalent yiel is calculateusing a 365-y year.考点YielMeasures解析考查的是scount yiel a-on yiel间的转换。1.题目给出了scount rate=4.25%，可以算出PV=100×（1-180/360×4.25%）=97.875。2.然后通过计算出来的PV再计算BEY，BEY就是365天形式的a-on-yielBEY=365/180×(100-97.875)/97.875=4.40%，故C正确。请问题目里不是说360吗？

2022-10-08 17:15 1 · 回答