[問題] Exam FM spot rates and future rates
大家好~ 小弟第一次在板上PO文
最近在為4月中的FM考試衝刺，以下為遇到的問題：
Find the present value of the remaining payments in the annuity
given in the table below immediately after two payments have been
made.The forward rates at that time are expected to be 1% higher
for all periods than the current spot rates.
Table Term(year) Spot rate(%) Payments
1 7.00 1000
2 8.00 1000
3 8.75 1000
4 9.25 1000
5 9.50 1000
解答如下：
1000*[(1.08)^(-1)+(1.09)^(-2)+(1.0975)^(-3)]=2524.07
我想問的是，解答中的forward rates為什麼不是f3、f4、f5，
Comparison date不是在t=2嗎？
以上問題，希望版上能有人為我指點迷津，感恩~~
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推
04/07 14:59, , 1F
04/07 14:59, 1F
→
04/07 14:59, , 2F
04/07 14:59, 2F
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04/07 14:59, , 3F
04/07 14:59, 3F
推
04/07 15:06, , 4F
04/07 15:06, 4F
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04/07 15:07, , 5F
04/07 15:07, 5F
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04/07 15:08, , 6F
04/07 15:08, 6F
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04/10 09:54, , 7F
04/10 09:54, 7F