问题
单项选择题
Using the following information about spot rates, what is the price of a three-year bond with $100 par and annual coupon payments of 5 percent One-year rate: 4.78% Two-year rate: 5.56% Three-year rate: 5.98%（）
A. $97.47.
B. $96.33.
C. $98.87.
答案
参考答案：A
解析：
The bond price is computed as follows:
Bond price =5/1.0478+5/1.05562+105/1.05983=$97.47.