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The zero curve is upward sloping. Define X as the 1-year zero rate, Y as the 1.5-year zero rate and Z as the forward rate

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The zero curve is upward sloping. Define X as the 1-year zero rate, Y as the 1.5-year zero rate and Z as the forward rate for the period between 1 and 1.5 years. Which of the following is true ? a. X is less than Z which is less than Y Ob. X is less than Y which is less than Z Oc. Y is less than X which is less than Z

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