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Massive Dynamic Corporation needs $ 2 0 0 million to expand its production and to develop new products. It has agreed to issue writter pledges
Massive Dynamic Corporation needs $ million to expand its production and to develop new products. It has agreed to issue writter pledges that it will repay a specified amount of money with interest on a particular day. Because it is uncertain it will have sufficient funds available if all of the pledges should become due on the same day, none of the pledges will be paid during the first years. After years, percent of the pledges will mature each year until all of them are retired at the end of the th year. What are the pledges?
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