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Thank you David....this explanation really helps.

Hi David, I have read the full thread in this forum as I had a similar doubt with respect to the final step in the example outlined by Hull wherein the final quoted price is being divided by the know conversion factor. I still haven't been able to understand the rational of adjusting the final...

Hi All, Have 2 queries surrounding the below question from the document qr12.p1.t3.hull_134_185_v5 (page 103). ______________________________________ Hull.04.03: The 6-month and 1-year zero rates are both 10% per annum. For a bond that has a life of 18 months and pays a coupon of 8% per annum...