[CFA Level 1] [原创]问LV1 下午一道计算题 price, discount, 原创, 计算

harryerin

4-year zero coupon treasury note, par value 1,000, discount rate 7%, price=??

Dong86

刚才打错了，应该是N=8, FV=1000, I=3.5, Compute PV

就这样吧，没什么陷阱吧[em09]

[此贴子已经被作者于2008-12-9 11:50:57编辑过]

harryerin

我晕倒,我一直把DISCOUNT RATE想成 face value的discount.

不过这样的话,正解应该是, N=8, I=3.5%, FV=1000, zero-coupon也是按照semi-anual来算的.

Dong86

是啊，我记得我应该是按semi-annual那样算的，呵呵。

seraphic80

totally wrong.

For discount rate, it means annually. (Book V, P392)

Only for BEY(bond equivalent yield), then you can compute as semi-annually.

Dong86

I thought you just divide the discount rate (which is the same as YTM) by two to get the semi-annual discount rate (which is semi-annual YTM). Even though you're given discount rate, but a zero-coupon bond should still technically be calculated on a semi-annual coupon-paying basis.  Well, I could be wrong.

harryerin

楼上正解