Please can someone help me with the numerator of the duration of the liabilities? 100v (1×1 + 1.05v×2 + 1.05^2 v^2 ×3+…+1.05^59 v^59×60) = (1.03/1.05) 100 v (1.05v×1 + 1.05^2 v^2 ×2 + 1.05^3 v^3 ×3+…+1.05^60 v^60×60) The part inside the brackets can be regarded as (Ia)60 evaluated at a rate of interest i such that v = 1.05/1.03 but (1.03/1.05) x100 x1.05v doesn't equal 100v?
