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R ( 0 , t ) is the spot zero coupon ( or discount ) rate . It is the annualized rate on a pure

R(0,t) is the spot zero coupon (or discount)rate. It is the annualized rate on a pure Unit Discount bond B(0,t)- the bond that pays 1 dollar at a time t. Assume that R(0,8)=5.44 per cent. What is the price of B(0,8)?3decimal figit accuracy.

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