问题
单项选择题
If the coupon payments are reinvested at the coupon rate during the life of the issue, then the:（）
A. yield to maturity is greater than the realized yield.
B. yield to maturity is less than the realized yield.
C. yield to maturity cannot be determined from the information given.
答案
参考答案：C
解析：
For the calculated YTM to hold true all reinvestments must occur at that YTM, otherwise a new YTM will occur and we will not be able to calculate it.