您好，可以问一下solve for DM的这个公式是在哪个知识点么？为什么要这么算呀而且算出来的2.168不用乘2么？

NO.PZ2018062006000081 问题如下 There is a two-yeFRN with quotemargin 50 basis points anthe referenrate is 6-month MRR. The current 6-month MRR is 1.2% whiis supposeto constant for the following 2 years anthe floater is price95 per 100 of pvalue. Please calculate the scount margin for the floater assuming a 30/360 y-count convention anevenly spaceperio. A.298 bps B.314 bps C.217 bps B is correct.First we neeto calculate the interest payment eaperio{(6-month MRR+QM) × FV}/m={(0.012+0.005) × 100}/2=0.85then calculate the scount rate per perio:95=0.851+r+0.85(1+r)2+0.85(1+r)3+0.85+100(1+r)495=\frac{0.85}{1+r}+\frac{0.85}{(1+r)^2}+\frac{0.85}{(1+r)^3}+\frac{0.85+100}{(1+r)^4}95=1+r0.85​+(1+r)20.85​+(1+r)30.85​+(1+r)40.85+100​r=2.168%Now, solve for :1.2%+2=2.168%\frac{1.2\%+}2=2.168\%21.2%+​=2.168% = 3.14%考点浮动利率债券解析知道浮动利率债券当前的债券价格和分子的Coupon rate，先反求出折现率，利用计算器PV= -95，FV=100，PMT=0.85，N=4，得到I/Y=2.168再利用折现率反求出scount margin2.168%=(1.2%+)/2，求得=3.14%，故B正确。 题目中的6-month MRR、quotemargin、scount margin，都是年化的利率吗？我理解的语境是6个月的利率。

NO.PZ2018062006000081问题如下 There is a two-yeFRN with quotemargin 50 basis points anthe referenrate is 6-month MRR. The current 6-month MRR is 1.2% whiis supposeto constant for the following 2 years anthe floater is price95 per 100 of pvalue. Please calculate the scount margin for the floater assuming a 30/360 y-count convention anevenly spaceperio. A.298 bpsB.314 bpsC.217 bps B is correct.First we neeto calculate the interest payment eaperio{(6-month MRR+QM) × FV}/m={(0.012+0.005) × 100}/2=0.85then calculate the scount rate per perio:95=0.851+r+0.85(1+r)2+0.85(1+r)3+0.85+100(1+r)495=\frac{0.85}{1+r}+\frac{0.85}{(1+r)^2}+\frac{0.85}{(1+r)^3}+\frac{0.85+100}{(1+r)^4}95=1+r0.85​+(1+r)20.85​+(1+r)30.85​+(1+r)40.85+100​r=2.168%Now, solve for :1.2%+2=2.168%\frac{1.2\%+}2=2.168\%21.2%+​=2.168% = 3.14%考点浮动利率债券解析知道浮动利率债券当前的债券价格和分子的Coupon rate，先反求出折现率，利用计算器PV= -95，FV=100，PMT=0.85，N=4，得到I/Y=2.168再利用折现率反求出scount margin2.168%=(1.2%+)/2，求得=3.14%，故B正确。 scount margin是什么

NO.PZ2018062006000081 问题如下 There is a two-yeFRN with quotemargin 50 basis points anthe referenrate is 6-month Libor. The current 6-month Libor is 1.2% whiis supposeto constant for the following 2 years anthe floater is price95 per 100 of pvalue. Please calculate the scount margin for the floater assuming a 30/360 y-count convention anevenly spaceperio. A.298 bps B.314 bps C.217 bps B is correct.First we neeto calculate the interest payment eaperio{(6-month Libor+QM) × FV}/m={(0.012+0.005) × 100}/2=0.85then calculate the scount rate per perio:95=0.851+r+0.85(1+r)2+0.85(1+r)3+0.85+100(1+r)495=\frac{0.85}{1+r}+\frac{0.85}{(1+r)^2}+\frac{0.85}{(1+r)^3}+\frac{0.85+100}{(1+r)^4}95=1+r0.85​+(1+r)20.85​+(1+r)30.85​+(1+r)40.85+100​r=2.168%Now, solve for :1.2%+2=2.168%\frac{1.2\%+}2=2.168\%21.2%+​=2.168% = 3.14%考点浮动利率债券解析知道浮动利率债券当前的债券价格和分子的Coupon rate，先反求出折现率，利用计算器PV= -95，FV=100，PMT=0.85，N=4，得到I/Y=2.168再利用折现率反求出scount margin2.168%=(1.2%+)/2，求得=3.14%，故B正确。 题目只是给了6个月的libor, 哪里可以看出半年付息一次？

NO.PZ2018062006000081 问题如下 There is a two-yeFRN with quotemargin 50 basis points anthe referenrate is 6-month Libor. The current 6-month Libor is 1.2% whiis supposeto constant for the following 2 years anthe floater is price95 per 100 of pvalue. Please calculate the scount margin for the floater assuming a 30/360 y-count convention anevenly spaceperio. A.298 bps B.314 bps C.217 bps B is correct.First we neeto calculate the interest payment eaperio{(6-month Libor+QM) × FV}/m={(0.012+0.005) × 100}/2=0.85then calculate the scount rate per perio:95=0.851+r+0.85(1+r)2+0.85(1+r)3+0.85+100(1+r)495=\frac{0.85}{1+r}+\frac{0.85}{(1+r)^2}+\frac{0.85}{(1+r)^3}+\frac{0.85+100}{(1+r)^4}95=1+r0.85​+(1+r)20.85​+(1+r)30.85​+(1+r)40.85+100​r=2.168%Now, solve for :1.2%+2=2.168%\frac{1.2\%+}2=2.168\%21.2%+​=2.168% = 3.14%考点浮动利率债券解析知道浮动利率债券当前的债券价格和分子的Coupon rate，先反求出折现率，利用计算器PV= -95，FV=100，PMT=0.85，N=4，得到I/Y=2.168再利用折现率反求出scount margin2.168%=(1.2%+)/2，求得=3.14%，故B正确。