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to prepare for Mimi's increasing expenditure, Simon considers investing in a fixed-income security at the start of the year. The security will pay out $100
to prepare for Mimi's increasing expenditure, Simon considers investing in a fixed-income security at the start of the year. The security will pay out $100 at the end of each year for the next 10 years. Suppose the annual interest rate is 2%. What is the present value of the security
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
