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  A firm has just issued $1,000 face value bonds with a coupon rate of 8%, paid     semi-annually, and a maturity of 15 years. If the issue price for this bond is $785.50, what is the yield-to-maturity, stated annually?
  A.       9.872%
  B.       10.365%
  C.       10.942%
  D.       11.120%
  答案:C
  答案解析:
  Using a bond calculator, PV= -785.5; FV=I000; N=30(15×2); PMT =40(1000×0.08/2). Solving for I/Y we get 5.471×2=10.942.
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