)(1+10%+11%/2)(1+11%/2+8%/2)Р=[(i名/(1+7%)4(1+7%/2+9%/2)(1+9%/2+10%/2)(1+10%+11%/2)(1+11%/2+8%/2)Р+i名/(1+7%)3(1+9%/2+10%/2)(1+10%+11%/2)(1+11%/2+8%/2)Р+i名/(1+7%)2(1+10%+11%/2)(1+11%/2+8%/2)Р+i名/(1+7%)(1+11%/2+8%/2)+(1+i名)5+1]Р÷[(1+7%)5(1+5%/2+7%/2)(1+7%/2+9%/2)(1+9%/2+10%/2)(1+10%+11%/2)(1+11%/2+8%/2)]Р=[i名×1.87564+i名×1.62308+i名×1.38531+i名×1.17165+i名+1]÷2.12736Р2.12736= i名×1.87564+i名×1.62308+i名×1.38531+i名×1.17165+i名+1Р1.12736= i名×1.87564+i名×1.62308+i名×1.38531+i名×1.17165+i名Р1.12736= i名×7.05568Рi名=1.12736÷7.05568=15.978%Р如果“习题39”中所述债券为每年付息两次,到期一次还本,其余假设条件不变,请计算确保实际收益率为7%时的名义利率。Р解:Р1= i名/(1+7%/2)(1+5%/2)Р+i名/(1+7%/2)2(1+5%/2)(1+7%/2)Р+ i名/(1+7%/2)3(1+5%/2)(1+7%/2)2Р+ i名/(1+7%/2)4(1+5%/2)(1+7%/2)2(1+9%/2)Р+ i名/(1+7%/2)5(1+5%/2)(1+7%/2)2(1+9%/2)2Р+ i名/(1+7%/2)6(1+5%/2)(1+7%/2)2(1+9%/2)2(1+10%/2)
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