Date 3 是啥意思？

问题如下：

The market price of bond B2 is €1,090. If the bond is purchased at this price and there is a default on Date 3, the rate of return to the bond buyer would be closest to:

选项：

–28.38%.

–41.72%.

–69.49%.

解释：

Correct Answer: A

If default occurs on Date 3, the rate of return can be obtained by solving the following equation for internal rate of return (IRR):

In this equation, €60 is the amount of coupon received at Dates 1 and 2 prior to default at Date 3. The amount €326.74 is the recovery at Time 3 (from the CVA table in the solution to the previous question). The solution to the foregoing equation can be obtained using the cash flow IRR function on your calculator.