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Olivia.W🌸 · 2024年01月31日

为什么计算器算出来没有答案?

NO.PZ2022123001000154

问题如下:

Grupo Ignacia issued 10-year corporate bonds two years ago. The bonds pay an annualized coupon of 10.7 percent on a semiannual basis, and the current annualized YTM is 11.6 percent. The current price of Grupo Ignacia’s bonds (per MXN100 of par value) is closest to:

选项:

A.

MXN95.47

B.

MXN97.18

C.

MXN95.39

解释:

C is correct. The coupon payments are 5.35 (=10.7/2), the discount rate is 5.8 percent (=11.6%/2) per period, and the number of periods is 16 (=8×2). Using Equation 6, the calculation is as follows:

95.39 = 5.35/1.058 + 5.35/1.0582 + 5.35/1.0583 +5.35/1.0584 + … + 5.35/1.05814 + 5.35/1.058 15 + 105.35/1.058 16 .

A is incorrect. MXN95.47 is the result when incorrectly using coupon payments of 10.7, a discount rate of 11.6 percent, and 8 as the number of periods.

B is incorrect. MXN97.18 is the result when using the correct semiannual coupons and discount rate, but incorrectly using 8 as the number of periods.

N=18,PMT=5.35,I/Y=5.8,FV=100, CPU PV=-95.05 ,没有答案呀

2 个答案

品职助教_七七 · 2024年10月12日

嗨,爱思考的PZer你好:


@-

年化YTM为11.6%,半年计息一次,半年期I/Y即为11.6/2=5.8

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品职助教_七七 · 2024年02月02日

嗨,从没放弃的小努力你好:


根据“..issued 10-year corporate bonds two years ago”,可知剩余期限还有8年,即16个半年。N应为16.

修改后的计算器按键如下:

N=16,PMT=5.35,I/Y=5.8,FV=100,CPT PV=-95.3892.

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加油吧,让我们一起遇见更好的自己!

- · 2024年10月11日

为啥I/Y是5.8?

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