问题
单项选择题
What is the present value of a 7% semiannual-pay bond with a $1000 face value and 20 years to maturity if similar bonds are now yielding 8.25%（）
A. $1000.00.
B. $879.52.
C. $878.56.
答案
参考答案：C
解析：
N=20×2=40; I/Y=8.25/2=4.125; PMT=70/2=35; and FV=1000. PV=878.56.