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77 · 2021年04月15日

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NO.PZ2016031002000044

问题如下:

An investor buys a 10-year bond with 6% annual coupon for $1,000 at par, and is going to hold the bond to maturity. Assuming coupon interest is reinvested at a bond's YTM, how many interest will the investor get over the whole life of the bond?

选项:

A.

$1406.62.

B.

$ 790.85.

C.

$ 600.00.

解释:

B is correct.

The interest portion of a return consists of both the coupon payments and the reinvesting coupon payments, so it can be calculated as below:

N=10, PMT=60, PV=0, I/Y=6%, CPT  FV= -790.85.

怎么知道的YTM = coupon rate = 6%?

1 个答案
已采纳答案

吴昊_品职助教 · 2021年04月15日

嗨,从没放弃的小努力你好:


同学你好:

题干第一句:An investor buys a 10-year bond with 6% annual coupon for $1,000 at par,也就是按面值1000购买了债券,即par value = market price, 因此,YTM = coupon rate = 6%。然后,我们将10笔coupon的现金流按YTM = 6%进行再投资,求未来值FV即可。

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