MGT 547 Fixed Income Security Analysis Professor Hongjun Yan YALE SCHOOL OF MANAGEMENT Solutions to Problem Set 7: Caps‚ Floors‚ Collars 1) Use the interest rate tree below. The first number at each node is the 0.5-year rate at that node. The next number is the price of $1 par of a 0.5-year zero at that node. The next number‚ at the time 0 node‚ is the price of $1 par of a 1-year zero. Time 0 Interest Rate Model Time 0.5 5.526% 0.973113 4.9% 0.976086 0.952587 4.345% 0.978737
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"In a country well governed‚ poverty is something to be ashamed of. In a country badly governed‚ wealth is something to be ashamed of" (Confucius). In England during the 1500’s almost everyone was catholic. Until 1534 when King Henry VIII wanted to get a divorce from his wife Catherine‚ because she was not able to give him a son to carry on his legacy. When the Pope denied Henry’s request for an annulment the King needed to figure out another was to be able to get his divorce. At this point the King
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differences between the Spanish settlements in the Southwest and the English colonies in New England in the seventeenth century in terms of TWO of the following: Politics Religion Economic Development (06) II. American Revolution – Early Republic ( 1776 – 1800) 1. Analyze the extent to which the American Revolution represented a radical alteration in American political ideas and institutions. Confine your answer to the period 1775 to 1800. (97) 2. Analyze the degree
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There are many types of different governments throughout the world. Democracy and Dictatorship are the two that I have found to be the most interesting. Democracy is a government is which the people in the country get to vote for the person they think has the most knowledge and that can run the government the efficient. In this type of government every citizen of the country has basic human rights that cannot be taken from them. When a government is a democracy it is ran by one person known as the
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------------------------------------------------- Current Chief Justice Main article: Georgina Theodora Wood The current Chief Justice is Georgina Theodora Wood. The Parliament of Ghana approved her nomination on 1 June 2007[25] following the death of George Kingsley Acquah on March 25‚ 2007.[26] She becomes Ghana’s first female Chief Justice. Justice Francois Yaonansu Kpegah‚ the most senior of the Supreme Court judges acted as Chief Justice between March 2007 and June 2007..[11] He handed over
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The new Wii U is criticized by some‚ but the cons are really insignificant things that are cherry-picked by fans of Playstations and other portable consoles. There are many pros to the new tablet-like device that Nintendo has recently developed‚ such as backwards compatibility‚ support for 3rd party games‚ online multiplayer‚ and a new style of gaming where only the player holding the Wii U can see a certain screen. The initial reaction of people who purchased a Wii U was confusion when seeing
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In our society we live in today‚ women who continue to work after having children are frowned upon. Women are criticized and blamed for working full time‚ and not spending enough time with their children. Nowadays‚ mothers have the luxury to choose between staying at home with their newborn children‚ and returning back to work. With women in the workforce‚ it shows their independence and positive effect they have on society. During the early 1900’s‚ women played one role‚ to stay at home and raise
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The Philosophical Dictionary by Voltaire The Enlightenment and the values it promoted are really nothing less than the infant version of twenty first century America. Its emphasis on reason‚ freedom of speech‚ religion‚ and assembly‚ and its desire to secularize government all appear in the Bill of Rights and represent the core beliefs which have been shaping U.S. culture for over two hundred years. Voltaire‚ a leader among the French philosophes‚ embodies much of the Enlightenment sentiment in
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Who Told You That You Were Naked? which has been written by William E Combs and published by Carpenter’s Son Publishing proved to be something of a disappointment to me. Brought up as a Catholic‚ I have for many years been interested and troubled by the problem of evil in the world‚ wondering how it can be that some people are capable of inflicting horrendous cruelty on their fellow human beings. The sub-title (A Refreshing Re-examination of the Garden of Eden) encouraged me to read the Doctor Combs’
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Philosophical idealism in David Swan In the opening paragraph of David Swan‚ Nathaniel Hawthorne illustrates his philosophical musings by writing‚ " There are innumerable other events-if such they may be called-which come close upon us‚ yet pass away without actual results‚ or even betraying their near approach‚ by the reflection of any light or shadow across our minds." It reminded me of Nicolas Malebranche’s ocassionalism‚ which refers to the contact of two things is the occasion for God is the
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