Exercise 24.2.9 Show that P(t, T) M(t) = 1 M(T) in a certain economy, where M(t)
Question:
Exercise 24.2.9 Show that P(t, T)
M(t)
= 1 M(T)
in a certain economy, where M(t) ≡ e
t 0 r (s) ds is the money market account. (Hint:
Exercise 5.6.6.)
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ISBN: 9780521781718
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