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Suppose there is a security that pays you $10 every night. It will pay the first $10 on December 25 (Christmas) evening, 2020 and will

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Suppose there is a security that pays you $10 every night. It will pay the first $10 on December 25 (Christmas) evening, 2020 and will pay you $10 every 7th night (meaning the next $10 on New Years Eve, 31st), forever thereafter, into perpetuity. Assume that the yearly rate of interest is 3.65%. Assume daily compounding. (Hint - this is a 7-day perpetuity) a) How much would you be willing to pay for this security on Christmas Eve, that is, a day before you get the first cash-flow of $10? b) How much would you be willing to pay for this security on the evening of November 30

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