NO.PZ201712110200000207
问题如下：
Based on Exhibits 4 and 7, the present value of Bond D’s cash flows following Path 2 is closest to:
选项：
A.97.0322.
B.102.8607.
C.105.8607.
解释：
B is correct.
The present value of Bond D’s cash flows following Path 2 is 102.8607 and can be calculated as follows:
Time 2 node value = 0.5 × [(103/1.016487) + (103/1.016487)] + 3 =104.3294.
Time 1 node values = (104.3294/1.028853) + 3 = 104.4036.
Time 0 node value (Path 2 PV) = (104.4036/1.015) = 102.8607.
请问老师：
因为只有一条路径，可以直接把1.5%，2.8853%，1.6487%看做，f(0,1), f(1,1), f(2,1)按照DCF的方式从前往后折吗？
P = 3/(1+1.5%) + 3/(1+1.5%)(1+2.8853%) + 103/(1+1.5%)(1+2.8853%)(1+1.6487%)
这样理解可以吗？
