答案和详解如下： 6.A 15-year, 10 percent annual coupon bond is sold for $1,150. It can be called at the end of 5 years for $1,100. What is the bond's yield to call (YTC)? A) 8.4%. B) 9.2%. C) 9.6%. D) 8.0%. The correct answer was D) Input into your calculator:
N = 5, FV = 1,100, PMT = 100, PV = -1,150
CPT I / Y = 7.95%. 7.A 20 year, 8 percent semi-annual coupon, $1,000 par value bond is selling for $1,100. The bond is callable in 4 years at $1,080. What is the bond's yield to call? A) 6.87. B) 8.13. C) 7.21. D) 5.23. The correct answer was A) n = 4(2) = 8; PMT = 80/2 = 40; PV = -1,100; FV = 1,080 Compute YTC = 3.435(2) = 6.87% 8.What is the current yield for a 5 percent three-year bond whose price is $93.19? A) 2.68%. B) 4.94%. C) 5.37%. D) 5.00%. The correct answer was C) The current yield is computed as follows: Current yield = 5% x 100 / $93.19 = 5.37% 9.A 20-year, 9 percent semi-annual coupon bond selling for $914.20 offers a yield to maturity of: A) 10%. B) 9%. C) 11%. D) 8% The correct answer was A) N = 40, PMT = 45, PV = -914.20, FV = 1,000, CPT I/Y =5%
YTM = 5% x 2 = 10% 10.A 20-year, 9 percent annual coupon bond selling for $1,098.96 offers a yield of: A) 10%. B) 9%. C) 8%. D) 11%. The correct answer was C) N = 20, PMT = 90, PV = -1,098.96, FV = 1,000, CPT I/Y | 
发表于 2008-4-17 16:51
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