NO.PZ2023120801000007
问题如下:
Relative to a fully amortized bond, the coupon payments of an otherwise similar partially amortized bond are
选项:
A.lower or equal
equal
higher or equal
解释:
Correct Answer: C
Except at maturity, the principal repayments are lower for a partially amortized bond than for an otherwise similar fully amortized bond. Consequently, the principal amounts outstanding and, therefore, the amounts of interest payments are higher for a partially amortized bond than for a fully amortized bond, all else equal. The only exception is the first interest payment, which is the same for both repayment structures. This is because no principal repayment has been made by the time the first coupon is paid.
是因为partially amortized bonds相对于fully amotized来说每期还款后,剩余的更多,利息是根据本金的多少来的,所以利息需要付的就比fully amotized方式付的多,对吗。如果问现金流的话,是不是还是fully amotized方式的多呢?