问题如下图：
选项：
A. 
B. 
C. 
解释：
没看懂解析的方法，跟老师上课用的不一样啊
吴昊_品职助教 · 2019年03月29日
这道题的考点就是forward pricing model。通过spot rate和forward rate之间的关系可以得知：[(1+S3)^3]*[1+f(3,2)]^2=(1+S5)^5，然后我们等号两边取倒数，就得到P(3)*F(3,2)=P(5)。其中题目中给出已知条件是F(3,2)=0.8479，P(3)=1/[(1+S3)^3]=1/(1.06)^3=0.8396。所以就能求得P(5)=0.7119
Marina_0122 · 2020年03月02日
如果反过来做的步骤可以写一下吗（ 1+S3）三次方乘以（f(2,3))平方
吴昊_品职助教 · 2020年03月03日
没有你写的这个式子，f(2,3)是第二年开始的三年期远期利率。没法和S3相乘。只有第三年开始的两年期远期利率才能跟在S3后。
NO.PZ2016022702000007 问题如下 A one-yezero-coupon bonyiel 4.0%. The two- anthree-yezero-coupon bon yiel5.0% an6.0% respectively.The five-yespot rate is not given above; however, the forwarprifor a two-yezero-coupon bonbeginning in three years is known to 0.8479. The pritoy of a five-yezero-coupon bonis closest to: A.0.7119. B.0.7835. C.0.9524. A is correct. 1(1.06)3=0.8396\frac1{{(1.06)}^3}=0.8396(1.06)31=0.8396The forwarpricing mol cuseto finthe priof the five-yezero P(T*+T)=P(T*)F(T*,T), SO P(5)=P(3)F(3,2)= 0.8396 x 0.8479 = 0.7119.考点forwarpricing mol首先将即期利率转化成即期价格P(3)= 1(1.06)3=0.8396\frac1{{(1.06)}^3}=0.8396(1.06)31=0.8396。通过forwarpricing mol得到五年期零息债券的价格，即P(T*+T)=P(T*)F(T*,T)，所以P(5)=P(3)×F(3,2)=0.8396×0.8479=0.7119。 如题
NO.PZ2016022702000007问题如下 A one-yezero-coupon bonyiel 4.0%. The two- anthree-yezero-coupon bon yiel5.0% an6.0% respectively.The five-yespot rate is not given above; however, the forwarprifor a two-yezero-coupon bonbeginning in three years is known to 0.8479. The pritoy of a five-yezero-coupon bonis closest to: A.0.7119.B.0.7835.C.0.9524. A is correct. 1(1.06)3=0.8396\frac1{{(1.06)}^3}=0.8396(1.06)31=0.8396The forwarpricing mol cuseto finthe priof the five-yezero P(T*+T)=P(T*)F(T*,T), SO P(5)=P(3)F(3,2)= 0.8396 x 0.8479 = 0.7119.考点forwarpricing mol首先将即期利率转化成即期价格P(3)= 1(1.06)3=0.8396\frac1{{(1.06)}^3}=0.8396(1.06)31=0.8396。通过forwarpricing mol得到五年期零息债券的价格，即P(T*+T)=P(T*)F(T*,T)，所以P(5)=P(3)×F(3,2)=0.8396×0.8479=0.7119。 P3的正确理解方法应该是，n＝3，I/Y＝6，FV＝1，PMT＝0，求PV，我看了那些就没有说到点上的，不会的人还是理解不了说的是个啥，看我说的这个我相信没人会不懂。
NO.PZ2016022702000007 问题如下 A one-yezero-coupon bonyiel 4.0%. The two- anthree-yezero-coupon bon yiel5.0% an6.0% respectively.The five-yespot rate is not given above; however, the forwarprifor a two-yezero-coupon bonbeginning in three years is known to 0.8479. The pritoy of a five-yezero-coupon bonis closest to: A.0.7119. B.0.7835. C.0.9524. A is correct. 1(1.06)3=0.8396\frac1{{(1.06)}^3}=0.8396(1.06)31=0.8396The forwarpricing mol cuseto finthe priof the five-yezero P(T*+T)=P(T*)F(T*,T), SO P(5)=P(3)F(3,2)= 0.8396 x 0.8479 = 0.7119.考点forwarpricing mol首先将即期利率转化成即期价格P(3)= 1(1.06)3=0.8396\frac1{{(1.06)}^3}=0.8396(1.06)31=0.8396。通过forwarpricing mol得到五年期零息债券的价格，即P(T*+T)=P(T*)F(T*,T)，所以P(5)=P(3)×F(3,2)=0.8396×0.8479=0.7119。 老师您好，我是这么算的第一步0.8479=1/f（3,2），得到f（3,2）=0.086第二步P0=1/（1.04*1.05*1.06*1.086*1.086），得到P=0.7325
NO.PZ2016022702000007 P(3)=1/[(1+S3)^3]=1/(1.06)^3=0.8396 为什么要这么算？ 具体在哪个视频里有讲解？
NO.PZ2016022702000007 为什么 我先算出S5,用1/(1+S5)^5,算出来不是同一个呢？