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Modify the data on theCDSpricingworksheet in the workbook b o n d s _ a n d _ c d s . x l s
Modify the data on theCDSpricingworksheet in the workbookbonds_and_cds.xlsxto compute a par spread in basis points for a 5yr CDS with notional principalN=10million assuming that the expected recovery rateR=25%, the 3-month hazard rate is a flat1%, and the interest rate is5%per annum.
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