Jim 發問時間: 社會與文化語言 · 10 年前

[英文]大學經濟學的問題

Calculate the capital gain (or loss) on a $1,000 face bond with a coupon rate of 10% that is bought for $1,000 when interest rates were 10% and held for one year, if after on year the interest rate:

a) drops to 8%

RET=?

b) increases to 12%

RET=?

1 個解答

評分
  • 10 年前
    最佳解答

    N = 1 yr, I/Y = 10%, PV= -$1000, PMT = $100 (coupon)

    Get FV by financial calculator, FV => $1000

    a) INT drops to 8%

    N = 1 yr, I/Y = 8%, PMT = $100, FV = $1000

    Get PV = -$1018.52

    RET = Current yield + Rate of capital gain

      = 100/1018.52 + (1018.52-1000)/1018.52

      = 0.1164 = 11.64%

    b) INT increases to 12%

    N = 1 yr, I/Y = 12%, PMT = $100, FV = $1000

    Get PV = -$982.14

    RET = 100/982.14 + (982.14-1000)/982.14

      = 0.0836 = 8.36%

還有問題?馬上發問,尋求解答。