单选题
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.
A
B
C
【正确答案】
C
【答案解析】
N=20×2=40; I/Y=8.25/2=4.125; PMT=70/2=35; and FV=1000. PV=878.56.
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