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33. Compute the one-, two-, and three-year cumulative default probabilities and conditional default probabilities, assuming that the hazard rate is 0.05. (5 points) Answer: t 1 2 3 Cumulative Survival PD Probability PD(t, t+1) Conditional PD Given Survival Until Time t

33. Compute the one-, two-, and three-year cumulative default probabilities an conditional default probabilities, assuming that the hazard rate is 0.05 . (5 points)