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| rev | Admin | (Created page with "You manage a pension fund, and your liabilities consist of two payments as follows: {| class="table table-bordered" ! Time !! Payment |- | 10 Years || $20 million |- | 20 Years || $30 million |} Your assets are $18 million. The term structure is currently flat at 5%. Compute an approximate change in the present value of your liabilities, using duration, when interest rates fall by 0.25%. <ul class="mw-excansopts"> <li>0.8M</li> <li>0.85M</li> <li>0.9M</li> <li>0.95...") | Dec 5'23 at 0:30 | +787 |