If the interest rate on AAA bonds is 5% and the high-yield spread is 1.5%, the rate on Baa bonds is? _________
If the current and expected future one-period interest rates are 4%, 5%, 6%, 5% and 5%, and the liquidity premium is 0.5%, the five-period interest rate is ___________?
Efficient markets imply stock prices follow a _________ ___________?