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英语翻译3.A bank has two,3-year commercial loans with a present

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英语翻译
3.A bank has two,3-year commercial loans with a present value of $70 million.The first is a $30 million loan that requires a single payment of $37.8 million in 3 years,with no other payments until then.The second is for $40 million.It requires an annual interest payment of $3.6 million.The principal of $40 million is due in 3 years,the general level of interest rates is 8%.
a.What is the duration of the bank’s commercial loan portfolio?
b.What will happen to the value of its portfolio if the general level of interest rates increased from 8% to 8.5%?
4.You own a $1,000-par zero-coupon bond that has 5 years of remaining maturity.You plan on selling the bond in one year,and believe that the required yield next year will have the following probability distribution:
Probability Required Yield
0.1 6.60%
0.2 6.75%
0.4 7.00%
0.2 7.20%
0.1 7.45%
a.What is your expected price when you sell the bond?
b.What is the standard deviation?
英语翻译3.A bank has two,3-year commercial loans with a present
3.一银行有两个现值7000万美元的3年期的商业贷款.首第一个是3000万美元的贷款,需要三年后3,780万美元的一次付款,中间不需要支付任何费用.第二个贷款价值4000万美元.每年需要支付360万美元的利息.4000万美元的本金3年内要还清,利率总水平是8%.
a.银行的商业贷款的期限是多长时间?
b.如果利率水平从8%提高到8.5%,利息的变化会是怎么样?
4.你拥有一个1000美元面值的零息债券,剩余期限为5年.您打算在一年内卖出债券,并认为需要的收益率明年将具有以下的概率分布:
概率 所需收益率
0.1 6.60%
0.2 6.75%
0.4 7.00%
0.2 7.20%
0.1 7.45%
a.您债券的预期出售价格应该是多少?
b.标准差是多少?