标题: Fixed Income - SMM - CPR [打印本页]

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作者: luckygiftvn    时间: 2011-7-13 13:18     标题: Fixed Income - SMM - CPR

Does anyone understand the logic of this formula?

SMM = 1 – (1 – CPR)^1/12

why do they use 1 - (minus) twice here?

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