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# Book 4 Chapter 11: Page 7 Spreads tuckman example

#### finhoe

##### New Member
Hi need help verifying these numbers as i was unable to replicate by myself:

What i did was for PV of CF in time period 0.5:
PV(no spread) = 0.3750 / (1+0.1492) = 0.3263
PV(w spread) = 0.3750 / (1+0.1932) = 0.314

For example: Spread (Tuckman) The price of 1.5 year, 3/4s bond as implied by the risk-free forward rate term structure is $100.255, but the bond's observed price is actually$100.190. We solve for the spread, s, that when added to the term structure, discounts to this observed price.