An analyst does research about bond evalua

问题单项选择题

An analyst does research about bond evaluation. Each of the option-free bonds listed below has a par value of $1000:

	Bond 1	Bond 2
Time to maturity	12 years	11 years
Annual coupon rate	6.0%	8.0%
Discount rate today	7.5%	7.5%

Which of the following statements about the two bonds is most accurate If the discount rate for each of the bonds remains at 7.5 percent for ten years, the passage of time will result in an increase in value for:

A. Bond 1 only.
B. Bond 2 only.
C. both Bond 1 and Bond 2.

答案

参考答案：A

解析：债券1的折现率大于息票率，是折价发行，账面价值随着时间的推移不断上升而趋向于面值。债券2的折现率小于息票率，是溢价发行，账面价值随着时间的推移不断下降而趋向于面值。