Analyzing and Issuing Refunding Bonds
• Calculation of bond yield reflects the nature of premium callable bonds • Weighted average maturity (WAM) ... Savings, 95% Esc Eff NYS / MTA Table 85% Ref Eff 3% Savings, 50% Delta 5% Savings 5% Savings, 95% Esc Eff 90% Ref Eff 6% Savings Performance of Alternative Relative to Various Policies ................
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