mock exam关于IO的一道题:
Notes:even if the higer rate must be used to discount the improved cash flows, there is usually a range above the contract rate for which the price increases.
Mock 45题的解释:the net effect may be either a rise or a fall in IO value.
是不是有点矛盾?不知道是不是我英文理解有误:我觉得notes 的意思是说if interest rate rise---net effect is a rise.


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