Question
Mr Borja invested in a 15-year security which has a price of P500. The security pays P65 at the end of the next 5 years
Mr Borja invested in a 15-year security which has a price of P500. The security pays P65 at the end of the next 5 years and then it pays a different fixed cash flow amount at the end of each of the following 10 years. Interest rates are 9%. What is the annual cash flow that Mr. Borja will enjoy between years 6 and 15?
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Focus On Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
5th Edition
0077861744, 978-0077861742
