8%
1.5%
→
−2.6%
5.84%
4.93%
4.17%
3.52%
5.84%
4.34%
3.00%
2.25%
8% × (1 − )
8% × 0.854.5
= 3.82%
8% × 0.704.5
= 1.58%
8% × 0.704.5
3.82% × 0.700
initial = anchor_rate / (1 − 0.30)year
→
→