Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
258325566.xls
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Relative
Year
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Cash Flow
per $100
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
Present
Value
interes
t rate
75.50
10%
88.31 8.55%
100.00 7.55%
Page 2
258325566.xls
Relative
Year
Cash Flow
per $100
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
Page 3
Interest
Rates
2%
3%
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
19%
20%
100%
500%
1000%
Present
Values
$339.20
$243.54
$186.85
$150.55
$125.74
$107.84
$94.38
$83.89
$75.50
$68.64
$62.92
$58.08
$53.93
$50.33
$47.19
$44.41
$41.94
$39.74
$37.75
$7.55
$1.51
$0.76
258325566.xls
Page 4
258325566.xls
Relative
Year
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
7.55
107.55
Interest
Rates
2%
3%
4%
5%
6%
7%
7.55%
8%
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
19%
20%
120.00
100.00
80.00
60.00
40.00
20.00
0.00
1
Page 5
258325566.xls
Present Value
Sleeping
Napping
Beauties
Beauties
$339.20
$243.78
$186.99
$150.61
$125.76
$107.85
$100.00
$94.38
$83.89
$75.50
$68.64
$62.92
$58.08
$53.93
$50.33
$47.19
$44.41
$41.94
$39.74
$37.75
$149.85
$138.81
$128.79
$119.69
$111.41
$103.86
$100.00
$96.98
$90.69
$84.95
$79.68
$74.86
$70.43
$66.36
$62.61
$59.16
$55.98
$53.04
$50.32
$47.80
120.00
100.00
80.00
60.00
40.00
20.00
0.00
1
8
Page 6
10
Present Value
258325566.xls
100-year bonds
$150.00
$100.00
10-year bonds
$50.00
$0.00
2%
3%
4%
5%
6%
7%
8%
9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%
Interest Rate
Page 7
258325566.xls
Relative
Year Sleeping Beauties
Interest
Rate
Duration
(in Years)
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
7.55%
10-Year Bond
30-Year Bond
7.55%
7.55%
14.24
7.02
6.53
6.07
5.64
5.25
4.88
4.54
4.22
3.92
3.65
3.39
3.15
2.93
2.73
2.53
2.36
2.19
2.04
1.89
1.76
1.64
1.52
1.42
1.32
1.22
1.14
1.06
0.98
0.91
0.85
0.79
0.74
0.68
0.64
0.59
0.55
0.51
0.48
0.44
7.37
7.02
6.53
6.07
5.64
5.25
4.88
4.54
4.22
3.92
51.94
Page 9
519.41
12.64
7.02
6.53
6.07
5.64
5.25
4.88
4.54
4.22
3.92
3.65
3.39
3.15
2.93
2.73
2.53
2.36
2.19
2.04
1.89
1.76
1.64
1.52
1.42
1.32
1.22
1.14
1.06
0.98
0.91
12.11
258325566.xls
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080
2081
2082
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
0.41
0.38
0.36
0.33
0.31
0.29
0.27
0.25
0.23
0.21
0.20
0.18
0.17
0.16
0.15
0.14
0.13
0.12
0.11
0.10
0.10
0.09
0.08
0.08
0.07
0.07
0.06
0.06
0.05
0.05
0.05
0.04
0.04
0.04
0.03
0.03
0.03
0.03
0.03
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.01
0.01
0.01
0.01
Page 10
258325566.xls
2083
2084
2085
2086
2087
2088
2089
2090
2091
2092
2093
90
91
92
93
94
95
96
97
98
99
100
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.07
Page 11
258325566.xls
30-Year Zero
7.55%
13.235891737
Page 12
258325566.xls
Page 13
258325566.xls
Page 14
258325566.xls
Relative Sleeping
Year
Beauty
10-Year
Bond
30-Year
Bond
30-Year
Zero
8.55%
8.55%
8.55%
8.55%
88.31
-11.69%
93.45
-6.55%
89.30
-10.70%
75.76
-24.24%
6.96
6.41
5.90
5.44
5.01
4.61
4.25
3.92
3.61
3.32
3.06
2.82
2.60
2.39
2.21
2.03
1.87
1.72
1.59
1.46
1.35
1.24
1.14
1.05
0.97
0.89
0.82
0.76
0.70
0.64
0.59
0.55
0.50
0.46
0.43
0.39
0.36
0.33
6.96
6.41
5.90
5.44
5.01
4.61
4.25
3.92
3.61
47.35
6.96
6.41
5.90
5.44
5.01
4.61
4.25
3.92
3.61
3.32
3.06
2.82
2.60
2.39
2.21
2.03
1.87
1.72
1.59
1.46
1.35
1.24
1.14
1.05
0.97
0.89
0.82
0.76
0.70
9.18
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
75.7561
Interest
Rate
Value @ 8.55%
% Ch. In Value
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Page 15
258325566.xls
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080
2081
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
0.31
0.28
0.26
0.24
0.22
0.20
0.19
0.17
0.16
0.15
0.14
0.12
0.12
0.11
0.10
0.09
0.08
0.08
0.07
0.06
0.06
0.05
0.05
0.05
0.04
0.04
0.04
0.03
0.03
0.03
0.03
0.02
0.02
0.02
0.02
0.02
0.02
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
Page 16
258325566.xls
2082
2083
2084
2085
2086
2087
2088
2089
2090
2091
2092
2093
89
90
91
92
93
94
95
96
97
98
99
100
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.03
Page 17
258325566.xls
Relative Sleeping
Year
Beauty
10-Year
Bond
30-Year
Bond
30-Year
Zero
6.55%
6.55%
6.55%
6.55%
115.24
15.24%
107.17
7.17%
112.99
12.99%
132.35
32.35%
7.09
6.65
6.24
5.86
5.50
5.16
4.84
4.54
4.27
4.00
3.76
3.53
3.31
3.11
2.92
2.74
2.57
2.41
2.26
2.12
1.99
1.87
1.75
1.65
1.55
1.45
1.36
1.28
1.20
1.13
1.06
0.99
0.93
0.87
0.82
0.77
0.72
0.68
7.09
6.65
6.24
5.86
5.50
5.16
4.84
4.54
4.27
57.03
Interest
Rate
Value 6.55%
% Ch. In Value
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
7.09
0
6.65
0
6.24
0
5.86
0
5.50
0
5.16
0
4.84
0
4.54
0
4.27
0
4.00
0
3.76
0
3.53
0
3.31
0
3.11
0
2.92
0
2.74
0
2.57
0
2.41
0
2.26
0
2.12
0
1.99
0
1.87
0
1.75
0
1.65
0
1.55
0
1.45
0
1.36
0
1.28
0
1.20
0
16.03 132.3454
Page 18
258325566.xls
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080
2081
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
0.64
0.60
0.56
0.53
0.49
0.46
0.43
0.41
0.38
0.36
0.34
0.32
0.30
0.28
0.26
0.25
0.23
0.22
0.20
0.19
0.18
0.17
0.16
0.15
0.14
0.13
0.12
0.11
0.11
0.10
0.09
0.09
0.08
0.08
0.07
0.07
0.06
0.06
0.06
0.05
0.05
0.05
0.04
0.04
0.04
0.04
0.03
0.03
0.03
0.03
Page 19
258325566.xls
2082
2083
2084
2085
2086
2087
2088
2089
2090
2091
2092
2093
89
90
91
92
93
94
95
96
97
98
99
100
0.03
0.03
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.01
0.19
Page 20
258325566.xls
Sleeping Beauty The Relation between Duration and Interest Rate Sen
Sleeping
Beauty
10-Year
Bond
30-Year
Bond
30-Year
Zero
% Ch if Rate Down 1%
15.2%
7.2%
13.0%
32.3%
Duration
14.24
7.37
12.64
30.00
-11.7%
-6.5%
-10.7%
-24.2%
% Ch. If Rate Up 1%
Page 21
258325566.xls
ge duration changes drastically where as in long term bond the averge duration change slowly so the senstivity changes slo
Page 22
258325566.xls
Page 23