NO.PZ2020011901000061
问题如下：
What is meant by a linear and a non-linear derivative? Give an example of each.
解释：
A linear derivative is a derivative where the payoff at a future time is linearly dependent on the value of the underlying at that time. A non-linear derivative is a derivative where the payoff is a non-linear function of the value of the underlying. A forward contract is a linear derivative. An option is a non-linear derivative
老师好，是不是the futures，swaps和option都是nonlinear？
