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(a) A zero-coupon bond has a redemption value of $1000 at time n. If the n-year spot rate is , express the price of the

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(a) A zero-coupon bond has a redemption value of $1000 at time n. If the n-year spot rate is , express the price of the bond in terms of one-year forward rates i", t = 1, 2, ..., n. [3]

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