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And whatever the price of the 1-year bond is--actually,
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we know what that is.
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It's 100.1, that's how much it costs.
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To buy 1 of them cost 100.1.
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To get 1 over 101 of them costs pi .
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Okay, so this number, by the way, is some number
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which, actually, I of course worked out here.
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Happens to be .991, but we'll come back to that.
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So it happens to be point 991.
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So now we know pi .
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Well, how would you buy 1 dollar in year 2?
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So there's a way of directly buying 1 dollar in year 2,