请教一个rate of reutrn的问题

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You just purchased an annual coupon bond for $817.84. The bond has a maturity of 15 years, a face value of $1,000, a coupon rate of 5%, and a yield to maturity of 7%. What is the bond's total rate of return for the year if the interest rate increases to 7.5% one year later?

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关键词：Rate ATE Increases maturity interest interest annual return

PV= 817.84， N = 15， FV = -1000， Y = 7, PMT=-50 ------------> YTM = 7, ie, $70
N = 14, FV = -1000, Y = 7.5 PMT = -50 --------------------->PV = 787.78, i.e. $ -30
40/817.84 --------------------------------------. 4.9%

答案说是2.44% 可是又没有过程 搞不懂

sp2003lsc 发表于 2012-5-9 21:23
答案说是2.44% 可是又没有过程 搞不懂

figure out the price a year later = $787.77.
add coupon $50 and you get the return of 2.44%.

PV=c*{1-1/(1+r)^n}/r+F/(1+r)^n

r=7.5% c=50 n=14 f=1000

pv=787.77

1-(787.77+50/817.84)=2.44%