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柏小颖 · 2020年10月04日

问一道题:NO.PZ2016012102000153 [ CFA I ]

问题如下:

When market interest rate is 7%, a company issues a $1 million bond with maturity of 3-year, a 5% coupon rate, and annual interest payments.

Which of the following statements is the most correct?

选项:

A.

 The total interest expense reported by the issuer over the life of the bond will be $150,000.

B.

The total interest expense reported by the issuer over the life of the bond will be $202,486.32.

C.

The total interest expense reported by the issuer over the life of the bond will be $52,486.32.

解释:

B is correct.

Method 1:

 
The sum of Interest expenses=$66,325.96+$67,468.77+$68,691.59=$202,486.32
 
Method 2:
 

Coupon payments + discount interest = coupon payments + (face value - issue value)= $150,000 + ($1,000,000 -  $947,513.68) = $202,486.32
.

第二年跟第三年的,是怎么算出来的
1 个答案

Olive_品职助教 · 2020年10月05日

嗨,爱思考的PZer你好:


interest expense=beginning book value×market interest rate

beginning book value+interest expense-coupon=ending book value


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虽然现在很辛苦,但努力过的感觉真的很好,加油!