chapter 14 bond prices and yields14章债券价格.DOC

Chapter 14 Bond Prices and Yields ? Multiple Choice Questions? 1.?The current yield on a bond is equal to ________.?A.?annual interest payment divided by the current market priceB.?the yield to maturityC.?annual interest divided by the par valueD.?the internal rate of returnE.?None of these is correct. ? 2.?If a 7% coupon bond is trading for $975.00, it has a current yield of ____________ percent.?A.?7.00B.?6.53C.?7.24D.?8.53E.?7.18 ? 3.?If a 7.25% coupon bond is trading for $982.00, it has a current yield of ____________ percent.?A.?7.38B.?6.53C.?7.25D.?8.53E.?7.18 ? 4.?If a 6.75% coupon bond is trading for $1016.00, it has a current yield of ____________ percent.?A.?7.38B.?6.64C.?7.25D.?8.53E.?7.18 ? 5.?If a 7.75% coupon bond is trading for $1019.00, it has a current yield of ____________ percent.?A.?7.38B.?6.64C.?7.25D.?7.61E.?7.18 ? 6.?If a 6% coupon bond is trading for $950.00, it has a current yield of ____________ percent.?A.?6.5B.?6.3C.?6.1D.?6.0E.?6.6 ? 7.?If an 8% coupon bond is trading for $1025.00, it has a current yield of ____________ percent.?A.?7.8B.?8.7C.?7.6D.?7.9E.?8.1 ? 8.?If a 7.5% coupon bond is trading for $1050.00, it has a current yield of ____________ percent.?A.?7.0B.?7.4C.?7.1D.?6.9E.?6.7 ? 9.?A coupon bond pays annual interest, has a par value of $1,000, matures in 4 years, has a coupon rate of 10%, and has a yield to maturity of 12%. The current yield on this bond is ___________.?A.?10.65%B.?10.45%C.?10.95%D.?10.52%E.?None of these is correct. ? 10.?A coupon bond pays annual interest, has a par value of $1,000, matures in 4 years, has a coupon rate of 8.25%, and has a yield to maturity of 8.64%. The current yield on this bond is ___________.?A.?8.65%B.?8.45%C.?7.95%D.?8.36%E.?None of these is correct. ? 11.?A coupon bond pays annual interest, has a par value of $1,000, matures in 12 years, has a coupon rate of 11%, and has a yield to maturity of 12%. The current yield on this bond i