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2017-03-15 10:31To Ms. Shan: What is "periodicity of 12" mean in the question below? Q: The annual yield-to-maturity, stated for with periodicity of 12, for a 4-year, zero-coupon bond priced at 75 per 100 of par value is closest to ?
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1個(gè)回答
Vito Chen助教
2017-03-17 10:45
該回答已被題主采納
意思是一年計(jì)息12次。按照這道題目的話(huà),4年的債券,每年計(jì)息12次,在計(jì)算時(shí)應(yīng)輸入:N=12*4=48,PV=-75,F(xiàn)V=100,PMT=0,用計(jì)算器得出I/Y=0.601,年化后得到annual YTM=0.601%*12=7.212%
