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a certain => 0 9. The duration of a perpetual annuity, under a flat term...

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a certain => 0 9. The duration of a perpetual annuity, under a flat term struc- ture with interest rate i > 0: A is always greater than the duration of an immediate annuity. Bis infinite. Co does not depend on t. Dis always lower than the duration of an immediate annuity. ponential

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