NO.PZ2023120801000037
问题如下：
Stellar Corp. recently issued $100 par value deferred coupon bonds, which will make no coupon payments in the next four years. Regular annual coupon payments at a rate of 8% will then be made until the bonds mature at the end of 10 years. If the bonds are currently priced at $87.00, their yield to maturity is closest to:
选项：
A.10.1%
B.8.0%
C.6.0%
解释：
Correct Answer: C
The yield to maturity (r) is computed by solving for r in the following equation:
87.00 = 8/(1 + r)^5 + 8/(1 + r)^6 + 8/(1 + r)^7 + 8/(1 + r)^8 + 8/(1 + r)^9 + 108/(1 + r)^10, which gives a yield to maturity of 6.0%.
这里的YTM为什么等同于IRR呢？转不过这个弯了。