问题
单项选择题
A corporate bond with the following data is issued: $1000 par value. 8.0 percent coupon payments. 5 years to maturity with semiannual coupon payments. Market interest rates are 10 percent. What is the total interest expense（）
A. 923.
B. 545.
C. 477.
答案
参考答案：C
解析：
Total interest expense is the difference between the amount paid by the issuer and the amount received from the bondholder. Present value of the bond is computed as follows: FV=1000, PMT=(1000×0.08)/2=40, I/Y=5, N=10, CPTPV=-923. [($40 coupon payments)×(10 periods)+$1000 par value]-$923 present value of the bond=477