FRM P1金融市場與產(chǎn)品重要知識(shí)點(diǎn)—債券的利息計(jì)算方法

金融市場與產(chǎn)品作為FRM P1考試當(dāng)中占比百分之30的考試科目，可以說是我們備考的重中之重！正保會(huì)計(jì)網(wǎng)校的老師給大家整理了金融市場與產(chǎn)品科目里面的重要知識(shí)點(diǎn)，知識(shí)點(diǎn)搭配例題，幫助大家更好的吸收！今日一起來學(xué)習(xí)債券的利息計(jì)算方法吧！

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 ?知識(shí)點(diǎn)：債券的利息計(jì)算方法? 

Accrued Interest，Clean& dirty price

Accrued Interest (AI)

Clean price: The price of a coupon bond not including any accrued interest. Immediately following each coupon payment, the clean price will equal the dirty price

Dirty price: A bond pricing quote referring to the price of a coupon bond that includes the present value of all future cash flows, including interest accruing on the next coupon payment

Dirtyprice= Cleanprice+ Accruedinterest

?？贾R(shí)點(diǎn)：

1. 注意區(qū)分不同的債券品種計(jì)息方式不同，主要涉及到對(duì)計(jì)息時(shí)長的計(jì)算。

- 國債 actual/actual

- 公司債 30/360

- 貨幣市場票據(jù)actual/360

2. 可以畫出時(shí)間軸來標(biāo)記計(jì)息時(shí)長。

3. 注意區(qū)分債券價(jià)格是否包含應(yīng)計(jì)利息。

例題：

A corporate bond in the U.S. pays a coupon of 10% per year. Payment dates are February 15 and July 15. What is the accrued interest on a USD 1.000 bond on the start of trading on April 1 in a leap year?
A.12.22
B.12.50
C.12.30
D.12.63

【正確答案】B

【答案解析】Whether it is a leap year or not makes no difference. The day count convention for corporate bonds is 30/360 so that it is always assumed that there are 30 days in a month. In this case, there are 45 days in the accrual period, the interest is USD 100 per year and the accrued interest(USD) is
（45/360）×10%×1,000=12.5

以上就是FRM P1金融市場與產(chǎn)品重要知識(shí)點(diǎn)-債券的利息計(jì)算方法的相關(guān)內(nèi)容，后期小編會(huì)持續(xù)給大家更新相關(guān)重要知識(shí)點(diǎn)，小伙伴們可以關(guān)注【 備考經(jīng)驗(yàn) 】欄目查看！