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The problem in stretching out the maturity of marketable securities is that
Independent Events
In probability, events that have no influence on each other's occurrence; the occurrence of one does not affect the probability of the other.
Probability
A measure of the likelihood that a particular event will occur, expressed as a number between 0 and 1.
First Letter
The first letter typically refers to the initial character in a sequence of characters, such as those in an alphabet, word, or string of text.
Federal Holidays
Public holidays established by federal law in a country, during which non-essential federal government offices are closed, and employees are paid for the holiday.
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