债券价值:1000X9%X(P/A,4%,10)+1000X(P/F,4%,10)=90X8.1109+1000X0.6756=1405.58 购买债券的价格为1405.58元第二年债券价值1000X9%X(P/A,10%,9)+1000X(P/F,10,9)=90X5.7590+1000X0.4241=942.41(942.41-1405.58)÷1405.58=-32.95%个人观点,仅供参考。