Question: Part j. Assume arbitrage does not exist. Assume the term structure of interest rates [or the spot rate curve) is not flat. The annuity yield

Part j. Assume arbitrage does not exist. Assume the term structure

Part j. Assume arbitrage does not exist. Assume the term structure of interest rates [or the spot rate curve) is not flat. The annuity yield curve may cross the spot rate curve more than one time

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