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Dana, Mike, and Andy enter into a financial agreement. Under this agreement, Dana will pay Mike 1 0 0 0 today. Dana will also pay
Dana, Mike, and Andy enter into a financial agreement. Under this agreement,
Dana will pay Mike today. Dana will also pay Andy at the end of one
year. Mike will pay Andy at the end of one year. Finally, Andy will pay
Dana at the end of two years.
Calculate the yield rate i that Dana will receive under this financial arrangement.
i
How do we show i is equal
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