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so it takes a second to adjust to it,
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but there's no cleverness involved in figuring these out.
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Now, so we've got the doubling rule, we've got coupon bonds,
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so that's simple.
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Now, somewhat subtler thing is an annuity.
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So an annuity pays you a fixed amount for a fixed number of years.
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So it doesn't pay the principal at the end, so it pays that C.
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That's supposed to be a capital C.
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It pays C, C, C, C for a fixed number of years.
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So it's a T period annuity.
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Now annuities also can be changed in two important ways.
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They can be indexed to inflation.