Question
Assume the pension fund pays $3 million next year, $1 million the next year, $2 million the next year, and $2 million in the last
Assume the pension fund pays $3 million next year, $1 million the next year, $2 million the next year, and $2 million in the last four years. If the discount rate is 10%, what is the value of the duration of this pension fund?
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Public Finance And Public Policy
Authors: Jonathan Gruber
6th Edition
1319105254, 9781319105259
