321.

323.10

10.If the yield-to-maturity on a 2-year coupon bond is greater than the yield-to-maturity on a 1-year STRIP, is the yield-to-maturity on a 2-year STRIP greater-than, less-than, or equal to the yield-to-maturity on the 1-year STRIP (say that 5 times fast)? EXPLAIN. (4)

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