Consider the following fixed income securities. CF1, CF2, CF3, CF4 refer to cash-flows in years one, two, three, and four. Asset Price CF CF2 CF3 CF4 YTM 1 99.010 100 0 0 0 2 96.117 0 100 0 0 2% 3 94.232 0 0 100 0 4 88.849 0 0 0 100 5 1051.568 0 0 100 1100 3.430%
(a) Please calculate the YTMs to complete the above table.
(b) Does an arbitrage opportunity exist? If so, please describe the strategy by stating which asset(s) you would buy, and which asset(s) you would sell in order to earn a riskless profit. Please make sure you indicate the relative amount of the assets in the arbitrage portfolio.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

answerthe above statement is (true);