UC知道货币银行/债券问题(急求!!)
来源：百度知道 编辑：UC知道 时间：2024/06/02 00:23:35
有2道作业题目如下
(1)If the interest rate is 10% , what is the present value of a security that pays you $1100 next year , $1210 the year after , and $ 1331 the year after that .
Answer:
PV = [1100/(1+0.1) ] + [1210/(1+0.1)^2 ] + [1331/(1+0.1)^3]
(2)Write down the formula that is used to calculate the yield to maturity on a 20-year 10% coupon bond with $1000 face value that sells for $2000
Answer : 2000 =[ 100 / (1+i) ] + [100 / (1+i)^2] + [100/(1+i)^3] +... + [100/ (1+i)^20 ]
Question as Shown Below:
(1)第2题为什么说i是到期收益率,而不是所宣传的利息率;而第1题出现i的地方却是以利率出现的.这不就矛盾了吗:i是到期收益率(Yield To Maturity)
(2)帮助分析和解释上面两题
(1)If the interest rate is 10% , what is the present value of a security that pays you $1100 next year , $1210 the year after , and $ 1331 the year after that .
Answer:
PV = [1100/(1+0.1) ] + [1210/(1+0.1)^2 ] + [1331/(1+0.1)^3]
(2)Write down the formula that is used to calculate the yield to maturity on a 20-year 10% coupon bond with $1000 face value that sells for $2000
Answer : 2000 =[ 100 / (1+i) ] + [100 / (1+i)^2] + [100/(1+i)^3] +... + [100/ (1+i)^20 ]
Question as Shown Below:
(1)第2题为什么说i是到期收益率,而不是所宣传的利息率;而第1题出现i的地方却是以利率出现的.这不就矛盾了吗:i是到期收益率(Yield To Maturity)
(2)帮助分析和解释上面两题
第一题的利率已知，这是个泛指的利率，没有特别的含义，
用它直接把确定现金流折现也就算出现值了。
第二题的coupon rate 10%是票面利率，表示这支债券每年付息占面值的比例
这个利率是不能用来折现的。是用来算每年的coupon的：1000*10%
到期收益率的原始定义就是把每笔现金流刚好折现成现价的这样一个折现率
在这题里面这个利率是未知的，因此就列出了这样一个式子来算它的到期收益率