Question

请帮忙翻译两道英文题，关于《固定收益证券》

Suppose that a 10% 15-year bond has the following callstructure:
Notcallable for the next 5 years;
Firstcallable in 5 years at $105;
Firstpar call date is in 10 years;
Theprice of the bond is $127.5880.
A.Isthe yield to maturity for this bond 7%,7.4%,or 7.8%?
B.Is the yield to first call for this bond 4.65%,4.55%,or 4.85%?
C.Is the yield to first par call for thisbond 6.25%,6.55%,or 6.75%?

。。。分界线。。。。。。。

Suppose that an amortizing security pays interestmonthly. Based on the projected principal payments and interest, suppose thatthe monthly interest rate that makes the present value of the cash flows equalto the price of the security is 0.41%.What is the cash flow yield on abond-equivalent basis?

Answer 1

假设：某一10% 15年期的债券有如下回购结构：
5年内不可赎回；
第一次赎回是5年期，价格为105美元；
第一次平价赎回日期是10年；
债券现价为127.588美元
A此债券至到期的收益率为7%、7.4%还是7.8%？
B此债券至第一个赎回期的收益率为4.65%、4.55%还是4.85%？
C此债券至第一个平价赎回期的收益率为6.25%、6.55%还是6.75%？
假设有某一债券按月还本付息。基于预期本金及利息现金流之现值，假设其月利率为0.41%，则换算为普通债券的收益率为多少？