The interest rate that equates the present value of the cash flow received from a debt instrument with its market price today is the ().
A. simple interest rate
B. discount rate
C. yield to maturity
D. real interest rate
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The yield to maturity of a one-year, simple loan of $400 that requires an interest payment of $50 is ().
A. 5%
B. 8%
C. 12%
D. 12.5%
Which of the following are true for a coupon bond?
A. When the coupon bond is priced at its face value, the yield to maturity equals the coupon rate.
B. The price of a coupon bond and the yield to maturity are positively related.
C. The yield to maturity is greater than the coupon rate when the bond price is above the par value.
D. All of the above are true.
A discount bond ().
A. is also called a coupon bond
B. is also called a zero-coupon bond
C. is also called a fixed-payment bond
D. is also called a corporate bond
When the price of a bond is ________ the equilibrium price, there is an excess demand for bonds and the price will ________.
A. above; rise
B. above; fall
C. below; fall
D. below; rise
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