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30-year security has a price of $9,908 . The security pays $ 500 at the end of each of the next 5 years , $1000
30-year security has a price of \$9,908 . The security pays $ 500 at the end of each of the next 5 years , $1000 at the end of years 6-15 , and then it pays a different fixed cash flow amount at the end of each of the following 10 years (i.e., years 16-25). Finally, in years 26-30 it again pays $ 1000 per year at year end. Interest rates are 8.0 %. What is the annual cash flow amount between years 16 and 25?
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