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  3. r(0,t) is the spot zero-coupon (or discount) rate.

R(0,t) is the Spot Zero-Coupon (or Discount) Rate. It is the annualized rate on a...

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Accounting

R(0,t) is the Spot Zero-Coupon (or Discount) Rate. It is the annualized rate on a pure Unit Discount bond B(0,t)- the bond that pays 1 dollar at time t. Assume that R(0,11)=4.80 per cent. What is the price of B(0,11)? Answer with three decimal digits accuracy. Example: 0.728
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