不懂計孳息率

1. Because the 票面值( HK$1,000) = 發行價 (HK$1,000), therefore,債券在在發行當日的到期孳息率=息票利率: 12%
2. Let R=該債券的現時孳息率
息票=$1,000*12%=$120
1,169.36=120/(1+R) + 120/(1+R)^2 + 120/(1+R)^3 + 1,120/(1+R)^4
R=7%

Therefore, 債券的孳息率 is 7%