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In the Armco pension fund model, suppose there is a fourth bond, bond 4 . Its unit cost in year 1 is $ 1 0
In the Armco pension fund model, suppose there is a fourth bond, bond Its unit cost in year is $ it returns coupons of $ in years through and a payment of $ in year Modify the model to incorporate this extra bond, and reoptimize. Does the solution changethat is should James purchase any of bond
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