问题如下：
Based on Exhibit 1, the expected future value of Bond I at maturity is closest to:
选项：
A.98.80.
103.74.
105.00.
解释：
B is correct. In the event of no default, the investor is expected to receive 105. In the event of a default, the investor is expected to receive 105 – [105 × (1 – 0.40)] = 42. The expected future value of the bond is, therefore, the weighted average of the no-default and default amounts, or (105 × 0.98) + (42 × 0.02) = 103.74.
为什么VND不是把一个面值为100，coupon为5，rf为3%的债券求现值得到的？
另外为什么这里的CVA不用折现呢？
