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Company XYZ has a liability of 1 0 , 0 0 0 due in nine months. To pay this liability, they have an asset portfolio

Company XYZ has a liability of

10, 000

due in nine months. To pay this liability, they have an

asset portfolio generating cash flows of X in six months and Y in one year. The portfolio is

Redington immunized.

The annual effective interest rate is

2 % .

Calculate X

.

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