问题
单项选择题
When computing the yield to maturity, the implicit reinvestment assumption is that the interest payments are reinvested at the:（）
A. prevailing yield to maturity at the time interest payments are received.
B. yield to maturity at the time of the investment.
C. current yield.
答案
参考答案：B
解析：
The reinvestment assumption states that reinvestment must occur at the YTM in order for an investor to earn the YTM. The assumption also states that payments are received in a prompt and timely fashion resulting in immediate reinvestment of those funds.