請幫我解債券的題目

Question

What is the price of a $1,000 par value bond with a 6% coupon rate paid semiannually, if the bond is priced to yield 5% and it has 9 years to maturity?

What would be the price of the bond if the yield rose to 7%.

What is the current yield on the bond if the YTM is 7%?

謝謝

Answer 1

最佳解答

令C為債券面額、g為支付期之息票利率、i為支付期之到期殖利率、n為支付次數。

債券價格p=C*[1+(g-i)*($1、n支付次數、i之普通年金現值)]

1.What is the price of a $1,000 par value bond with a 6% coupon rate paid semiannually, if the bond is priced to yield 5% and it has 9 years to maturity?

Ans：

C=1,000，g=0.06/2=0.03，i=0.05/2=0.025，n=9*2=18，

($1、n支付次數、i之普通年金現值)=(1-(1+i)^-n)/i=(1-1.025^-18)/0.025=14.35336363

=>p=1,000*[1+(0.03-0.025)*14.35336363]=1,071.766818。

2.What would be the price of the bond if the yield rose to 7%

Ans：

C=1,000，g=0.06/2=0.03，i=0.07/2=0.035，n=9*2=18，

($1、n支付次數、i之普通年金現值)=(1-(1+i)^-n)/i=(1-1.035^-18)/0.035=13.18968173

=>p=1,000*[1+(0.03-0.035)*13.18968173]=934.0515914。

3.What is the current yield on the bond if the YTM is 7%?

current yield =票息/=債券價格=(1000*0.06)/934.0515914=6.4236%(年)

2013-11-09 20:00:12 補充：

^--------------^

Answer 2

證券開戶推薦的這一家是很多網友都蠻推薦的，若不相信的人可以到各大部落格甚至奇摩知識+爬文，就知道很多人推薦這一家證券公司了。

除了手續費2.8折以外，新光證券所提供的看盤軟體是可以支援當紅的智慧型手機iPhone，這也難怪為什麼這麼多網友特別推薦這一家新光證券。

複製網址前往了解!

http://product.mchannles.com/redirect.php?k=293b93...

Answer 3

TOMING88, you need to use annuity formula to calculate.

2013-11-09 19:35:06 補充：

Oh, 剛想答時被ocean知識貧民 答了~

^__^

Answer 4

The price of a $1,000 par value bond yields interest,whether at 6 or 7 % are:-

1000x0.06x2x0.05x9

=($) 54.

Or

100x0.06x2x0.07x9

=($)75.60.

2013-11-09 19:37:14 補充：

Sorry, annuity formula yields.