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| rev | Admin | (Created page with "'''Solution: A''' Let x, y, and z represent the amounts invested in the 5-year, 15-year, and 20-year zero-coupon bonds, respectively. Note that in this problem, one of these three variables is 0. The present value, Macaulay duration, and Macaulay convexity of the assets are, respectively, <math display = "block"> x+y+z=9697,\quad{\frac{5x+15y+20z}{x+y+z}}=15.24 </math> We are given that the present value, Macaulay duration, and Macaulay convexity of the liabilities ar...") | Nov 20'23 at 21:03 | +1,660 |