Question: R ( 0 , t ) is the Spot Zero - Coupon ( or Discount ) Rate. It is the annualized rate on a pure

R(0,t) is the Spot Zero-Coupon (or Discount) Rate. It is the annualized rate on a pure Unit Discount bond B(0,t)- the bond that pays 1 dollar at time t. Assume that R(0,3)=7.60 per cent. What is the price of B(0,3)? Answer with three decimal digits accuracy. Example: 0.728

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