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9. An insurance company has committed to make a payment of $100 in 2 years. The company can fund this liability only through the purchase
9. An insurance company has committed to make a payment of $100 in 2 years. The company can fund this liability only through the purchase of 1-year zero-coupon bonds and 3-year zero-coupon bonds. Both bonds have face value of $100. The annual effective yield for all assets and liabilities is 25%. Determine how many units of each bond the company should buy to immunize its position
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