Answer:
the number of deaths in a defined period (usually a calendar year) per 1,000 people.
Step-by-step explanation:
The constant default rate (CDR) is calculated as follows: Take the number of new defaults during a period and divide by the non-defaulted pool balance at the start of that period. Take 1 less the result from no. ... 2 to the power based on the number of periods in the year.
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