14. Following Table 10, compute the prices of first, second, and Nth-to-default bonds assuming that defaults are
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14. Following Table 10, compute the prices of first, second, and Nth-to-default bonds assuming that defaults are uncorrelated and that there are 5, 10, 20, and 50 bonds in the portfolio. How are the Nth-to-default yields affected by the size of the portfolio?
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Related Book For 
Derivatives Markets Pearson New International Edition
ISBN: 978-1292021256
3rd Edition
Authors: Robert L. Mcdonald
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