is there a reason the par rate is said to be 2.25% yet the 1 year rate in exhibit 2 says 2.50%?? my answer thus was wrong since I used the 2.5 to discount back to time 0. aren’t all time 0 rates ie. spot vs. par the same? tell me I’m not going crazy…
You need to always keep the eratta page open while doing anything from the CFAI books.
There are just so many mistakes…it’s like they want us to learn how to do stuff incorrectly.
Here’s a link
http://www.cfainstitute.org/Eratta/2015_level_II_errata.pdf
Keep banging away!!!
thanks man. definitely a relief!