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8. Lux offers to pay $5,000 five years from now. Garen offers to pay you $4,500 at time t. The effective annual interest rate is

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8. Lux offers to pay $5,000 five years from now. Garen offers to pay you $4,500 at time t. The effective annual interest rate is 10%. Find the value of t so that you are indifferent between Lux's and Garen's offers. (consider indifferent as having the same present value.)

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