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On page 4, why did he put 0.25 in the numerator when calculating d1? In the formula, that spot marks T, which is time. I
On page 4, why did he put 0.25 in the numerator when calculating d1? In the formula, that spot marks T, which is time. I think it should be 0.5 as the option is for 6 months.
Please explain, thank you.
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Public Finance and Public Policy
Authors: Jonathan Gruber
5th edition
1464143331, 978-1464143335
