In pricing a caplet with maturity T and strike rate k, at what date is the payment

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In pricing a caplet with maturity T and strike rate k, at what date is the payment received, and what is the payoff at time T?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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