为什么不是A

问题如下：

A five-year bond has the following cash flows:

The bond can best be described as a

选项：

A.

bullet bond.

B.

fully amortized bond.

C.

partially amortized bond.

解释：

B is correct.

A bond that is fully amortized is characterized by a fixed periodic payment schedule that reduces the bond’s outstanding principal amount to zero by the maturity date. The stream of £230.97 payments reflects the cash flows of a fully amortized bond with a coupon rate of 5% and annual interest payments.

考点：cash flow structure

解析：完全摊销的债券的特点是有一个固定的定期支付时间表，使债券的未偿还本金在到期日减少到零。故选项B正确。