NO.PZ2016012102000149
问题如下：
When market intertest rates are 8%, a company issues a $1 million bond with a 10% coupon rate, 5-year to maturity, and the interests are paid on an annual.
According to the information, which of the following statements about the bond is correct?
选项：
A.Total of all cash payments to the bondholders is $1,500,000.
B.Total of all cash payments to the bondholders is $1,079,854.
C.Total of all cash payments to the bondholders is $1,400,000.
解释：
A is correct.
Five coupon payments = $100,000 × 5 = $500,000
The face value = $1,000,000
Total of all cash payments = Five coupon payments + The face value = $500,000 + $1,000,000 = $1,500,000
可以这么理解么：$1,079,854.折现后是股东现在购买债券要向公司付的钱，是站在股东的角度看现金流是多少。而1500000是公司每一期支付的利息和最后返还面值的实际现金流，是站在公司的角度看现金流多少。
