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A payment of $5,000 is due in 9 years. To cover this cost, two assets are acquired. The first asset is expected to return $Y
A payment of $5,000 is due in 9 years. To cover this cost, two assets are acquired. The first asset is expected to return $Y in X years, where X<9. The second asset is expected to return $3,000 in 12 years. The annual effective rate of interest is 8%. Calculate the minimum amount returned by the first asset ($Y) under the conditions of Redington immunization.
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1,310
-
1,415
-
2,123
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2,619
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3,809
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