Question: Exercise 3.9 When the current par yield curve is increasing (respectively, decreasing), the for- ward zero-coupon rate curve is above (respectively, below) the current zero-coupon

Exercise 3.9 When the current par yield curve is increasing (respectively,

Exercise 3.9 When the current par yield curve is increasing (respectively, decreasing), the for- ward zero-coupon rate curve is above (respectively, below) the current zero-coupon rate curve. Give a proof of this assertion

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