Question: Consider 1-factor parallel yield shift model with a flat structure of forward rates y. Assume currently y=8%. How many 5-year zero-coupon bonds you need to

Consider 1-factor parallel yield shift model with a flat structure of forward rates y. Assume currently y=8%. How many 5-year zero-coupon bonds you need to sell to hedge a portfolio of 1000 of 9-year zero-coupon bonds.

Please round your answer to the nearest integer number of bonds.

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