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In 1997, Merton and Scholes were awarded the Nobel prize for finding analytic formula for European Option. Please explain Black-Scholes-Merton formula intuitively, why is it

In 1997, Merton and Scholes were awarded the Nobel prize for finding analytic formula for European Option. Please explain Black-Scholes-Merton formula intuitively, why is it so important and how can we make use of it? revious Page Next Page Pa

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