(d) A pension fund manager knows that the following liabilities must be satisfied: Suppose that the pension fund manager want to invest today a lumpsum of money that will satisfy this liability stream. How much must he invest today to meet this liability stream in the future? Discuss the portfolio that he should build to meet this liability. (6pts) 3 Year Liability (in millions dollars) 1 $3.05 2 $4.18 3 $6.40 4 $6.89 5 $8.75 (e) What is the value of the total liability that the pension fund manager owes at the end of year 3? (4pts) (d) A pension fund manager knows that the following liabilities must be satisfied: Suppose that the pension fund manager want to invest today a lumpsum of money that will satisfy this liability stream. How much must he invest today to meet this liability stream in the future? Discuss the portfolio that he should build to meet this liability. (6pts) 3 Year Liability (in millions dollars) 1 $3.05 2 $4.18 3 $6.40 4 $6.89 5 $8.75 (e) What is the value of the total liability that the pension fund manager owes at the end of year 3? (4pts)