证券估价浅讲

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1、2022-12-302022-12-302022-12-302022-12-30)()1()1()1()1()1()1(,121nrnrndnttdndndddBddPVIFMPVIFAIrMrIrMrIrIrIV（债券的价值债券的价值=每年付息额的现值每年付息额的现值+面值的现值面值的现值2022-12-30元99.107100%101005%,85%,8PVIFPVIFAP2022-12-30元98.16100%31004%,3.54%,3.5PVIFPVIFAP2022-12-30元1.68681.01001005%,8PVIFP2、纯贴现债券（零息债券）的估价、纯贴现债券（零息债券）的

2、估价2022-12-303、求到期收益率（插值法）、求到期收益率（插值法）2022-12-302022-12-30nrPVIFPPVIFADVnr,nnPVIFPPVIFADV4%4/r4%4/r，）（，）（2022-12-30rDV/元5.97 100280,4%880,4%8PVIFPVIFAV2022-12-30nnntttnnnnrPrDrPrDrDrDP11 1111122102022-12-30 13322101 111tttrDrDrDrDP2022-12-30rDrDrDrDP/1113202022-12-302022-12-30 1002200011 )1()1()1()1(11tttnnrgDrgDrgDrgDP2022-12-30元67.34%4%10%412V1010DPrgDrgP2022-12-30