19 A company has a $20,000 liability to be repaid in 5 years The company can invest in two types of assets 2 year zero coupon bonds and 8 year zero coupon bonds Construct a portfolio consisting of only these two types of assets, based on Redington immunization All cash flows are discounted at an effective interest rate of 8 19 A company has a $20,000 liability to be repaid in 5 years The company can invest in two types of assets 2 year zero coupon bonds and 8 year zero coupon bonds Construct a portfolio consisting of only these two types of assets, based on Redington immunization All cash flows are discounted at an effective interest rate of 8

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19  A company has a $20,000 liability to be repaid in 5 years  The company can invest in two types of assets  2 year zero coupon bonds and 8 year zero coupon bonds  Construct a portfolio consisting of only these two types of assets, based on Redington immunization  All cash flows are discounted at an effective interest rate of 8   19  A company has a $20,000 liability to be repaid in 5 years  The company can invest in two types of assets  2 year zero coupon bonds and 8 year zero coupon bonds  Construct a portfolio consisting of only these two types of assets, based on Redington immunization  All cash flows are discounted at an effective interest rate of 8

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19. A company has a $20,000 liability to be repaid in 5 years. The company can invest in two types of assets: 2-year zero coupon

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