单选题 Using the following information about spot rates, what is the price of a three-year bond with $100 par and annual coupon payments of 5 percent? One-year rate: 4.78% Two-year rate: 5.56% Three-year rate: 5.98%

A、

A. $97.47.
B、

B. $96.33.
C、

C. $98.87.

【正确答案】 A

【答案解析】
The bond price is computed as follows:
Bond price =5/1.0478+5/1.0556²+105/1.0598³=$97.47.