Let's see first what the risk-free interest rate really is. It depends on
two conditions. One condition is that the borrower will certainly repay the
money. The other condition is that the lender will certainly be alive to
collect it when the time comes. That is probably the strongest reason wh
r that."
Marko
- Original Message -
From: "Fred Foldvary" <[EMAIL PROTECTED]>
To: "Marko Paunovic" <[EMAIL PROTECTED]>; <[EMAIL PROTECTED]>
Sent: Friday, December 05, 2003 21:58 PM
Subject: Re: Why is a dollar today worth more than a dollar to
