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
MXN97.18
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