------ =_NextPart_000_01BD63DB.1829D7E8
Content-Type: text/plain
One version of the Gordon Shapiro model is shown on page 5-53 of the
Maginn & Tuttle reading; another version is shown on page 141 of
Feldblum's paper on Asset Liability Matching. The versions differ by
the factor 1+G. I think the version in the Feldblum paper is correct.
Would anyone agree?
------ =_NextPart_000_01BD63DB.1829D7E8
Content-Type: application/ms-tnef
Content-Transfer-Encoding: base64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------ =_NextPart_000_01BD63DB.1829D7E8--