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| rev | Admin | (Created page with "'''Solution: D''' Let <math>F_1, F_2, F_3</math> be the redemption amounts of each bond for purchase. To exactly match the liabilities with cash income: <math display="block"> \begin{aligned} & 1000=F_3 \\ & F_3=1000 \\ & 1000=F_2(1.02) \\ & F_2=980.39 \\ & 1000-980.39(0.02)=F_1(1.01) \\ & F_1=970.69 \end{aligned} </math> The total purchase price is <math display="block"> \frac{970.69(1.01)}{1.14}+\frac{980.39(0.02)}{1.15}+\frac{980.39(1.02)}{1.15^2}+\frac{1000}{1....") | Nov 20'23 at 22:17 | +523 |