NO.PZ2018062010000009
问题如下:
Which of the following bonds has the highest coupon payment if other features are the same?
选项:
A.Partially amortized bond.
B.Fully amortized bond.
C.Plain vanilla.
解释:
C is correct.
Coupon payments are calculated on the basis of remaining principal. A plain vanilla's principal will not be amortized, so it has the highest coupon payments.
coupon payment应该是指每期支付的费用,包含利息和本金,所以fully amortized的coupon payment才是最大的
interest expense、coupon expense,才是指利息的支付