问题
单项选择题
Given the following forward rates, the value of a 4 -year, 11 percent annual pay, $1000 par bond, is closest to:（）
A．1060.36
B．2236.22
C．1563.2
答案
参考答案：A
解析：
Spot Rates:
Year 1=7%.
Year 2= [1.07×1.0815]1/2-1=7.57%.
Year3=[1.07×1.0815×1.103]1/3-1=8.48%.
Year 4=[1.07×1.0815×1.103×1.120]1/4-1=9.35%.
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