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...hey are banks or other types of intermediaries. Note on Risk Aversion Why are the young less risk-averse than the old? One standard explanation i... ...a career and a home. Hence their reluctance to jeopardize it all. But, surely, the young have a lot to forfeit: their entire future, to start with.... ...e has money-value, as we all know. Why doesn't it factor into the risk calculus of young people? It does. Young people have more time at their dis... ...) TO MATURITY = [(1+r) n - 1] n = number of periods in 1 year 4. CURRENT YIELD (CY) = C / P b 5. COUPON RATE (C) 6. BANK DISCOUNT YIELD (BD... .... BEY = 365 ´ BDY / 360 - (BDY ´ n) 9. BDY < BEY < EAY 10. FOR PREMIUM BOND: C > CY > YTM (Loss on P b relative to par) TYPES OF BONDS ...