1. An investor should make a payment of $1,469.33 in 5 years, the market interest rate is 8%. He wishes to fund his obligation using 2-year zero-coupon bonds and perpetuities paying annual coupon. To immunize his obligation, the investor should invest today:

   		$1215 in 2-year zero-coupon bonds and $254.33 in perpetuities
   		$194 in 2-year zero-coupon bonds and $806 in perpetuities
   		$1215 in 2-year zero-coupon bonds and $254.33 in perpetuities
   		$739 in 2-year zero-coupon bonds and $261 in perpetuities