Suppose that it is 2017 and the insurer must make a guaranteed payment to an investor in 4 years. Assume that the target guaranteed payment is $1,300, a lump-sum policy payout on retirement, equivalent to investing $1,000 at an annually compounded rate of 8 percent over four years. If a zero-coupon bond with 4 year maturity is not available, what would be your best strategy? Explain how you can generate $1,300 regardless of interest rate changes.