【FRM每日一题】一级:金融市场&估值
备考FRM一级 | 2015-10-08
A $1,000 face value bonds with a coupon rate of 8%, which paid semi-annually, is just issued by a firm and its maturity is 15 years. If the issue price for this bond is $785.50, the annually YTM is closet to: A.9.872%
B.10.365%
C.10.942%
D.11.120%
Answer: C
Using a bond calculator, PV=-785.5; FV=I000; N=30(15×2); PMT =40(1000×0.08/2). Solving for I/Y we get 5.471×2=10.942.
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