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Consider a five-year annuity paying $10,000 at a 4% yield. If the maturity is extended to six years, keeping the same yield, its price: decreases

  1. Consider a five-year annuity paying $10,000 at a 4% yield. If the maturity is extended to six years, keeping the same yield, its price:
    1. decreases
    2. increases
    3. remains the same

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