问题如下:
A Benedict&Co. 8%, semiannual-pay, 4-year bond trading at 103% of par ($1,000). The bond is callable in two years at 101.5%. What is the bond's yield-to-call?
选项:
A.
3.538%.
B.
5.664%.
C.
7.076%.
解释:
C is correct.
N=4; FV=1,015; PMT=(1,000×8%)/2=40; PV=1,000×(-103%)= -1,030; CPT→I/Y=3.5382x 2= 7.076%.
请问为什么要用1030作为pv计算?