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Slides 20101019
Slides 20101019
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Interest rate
0.105
Zero coupon rate
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0.1
0 0.5 1 1.5 2 2.5
Maturity
Cash-flows C t at tk
k
A k Ct k (1 i) tk
( t k 1)
1 t C (1 i)
v : A k k tk
A i A
: (1 i )v
A