Bonds, Cows and In-Kind Annuity Purchases
If there’s one thing actuarial bloggers live for, it’s written exams. So here goes: Q. Farmer Adam owes Farmer Bill a cow. What is the most efficient way of making payment? A. Walk the cow over to Farmer Bill’s farm and give it to him. B. Sell the cow to Farmer Chuck, then give the cash…
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