此题可用其末付年金法计算

得到到上面的结果

楼上的是正确的！！

这些朋友们的结果是不是有点不太对？付息是半年一付，因此对于现金流的折现应当是半年一折，A的投资收益率为(VAN-1000)/1000，

VAN=50*[1-(1+r/2)^-10]/r+1000/(1+r)^5,r为一年期利率，可以随便设，而B的收益率应该和A相等，解出来应该和以上结果有点出入吧？我懒得算，不知道是多少，但应该不是这个答案。当然如果考虑利率的变动就做不了了。

edited

[此贴子已经被作者于2006-12-26 2:12:44编辑过]

这道题目是没有解的,要知道spot rate才能解出债券B的现值

你算出债券A的YTM根本没有用,而且是企业债券,风险跟流动性升水未知

edited

[此贴子已经被作者于2006-12-26 2:10:59编辑过]

Well, if the term structure and the credit risk exposure is supposed to be included in this question, it is hard to get the answer.

If the credit risk is not included and term structure is considered, the final redemption will be a problem to calculated. Because each cash inflow is propotional except the final one.

If it is still a question to be answered, I think YTM is the only factor we can use.