If the initial rate at any node at time t on a binomial interest rate tree is
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If the initial rate at any node at time t on a binomial interest rate tree is r1 and the two ensuing nodes after time h = 1 year are ru (with probability p) and rd (with probability 1 − p), then given that the two-period zero-coupon rate is r2, write down the analytic expression for the probability p assuming simple compounding for each period.
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To derive the analytic expression for the probability p in a twoperiod binomial interest rate tree w...View the full answer
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