题目
A5-year, 5% semiannual coupon payment corporate bond is priced at 104.967 per100 of par value. The bond’s yield-to-maturity, quoted on a semiannual bondbasis, is 3.897%. An analyst has been asked to convert to a monthlyperiodicity. Under this conversion, the yield-to-maturity is closest to:
选项
A.3.87%.
B.4.95%.
C.7.67%.
答案
A
解析
A is correct. The yield-to-maturity, stated for a periodicity of 12 (monthly periodicity), is 3.87%. The formula to convert an annual percentage rate (annual yield-to-maturity) from one periodicity to another is as follows:「huixue_img/importSubject/1564548167532417024.png」APR12 = 0.00322 × 12 = 0.03865, or approximately 3.87%.
A是正确的。到期收益率为3.87%，周期为12（月周期）。将年百分率（年到期收益率）从一个周期转换为另一个周期的公式如下： APR12=0.00322×12=0.03865，约3.87%。