问题
单项选择题
Which of the following statements regarding zero-coupon bonds is TRUE()
A. An investor who holds a zero-coupon bond until maturity will receive a return equal to the bond’s effective annual yield.
B. An investor who holds a zero-coupon bond until maturity will receive an annuity of coupon payments plus recovery of principal at maturity.
C. An investor who holds a zero-coupon bond until maturity will receive an annuity of coupon payments.
答案
参考答案：A
解析：
Because zero-coupon bonds have no coupons (all of the bond’s return comes from price appreciation), investors have no uncertainty about the rate at which coupons will be invested. An investor who holds a zero-coupon bond until maturity will receive a return equal to the bond’s effective annual yield.