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What is the price of a security that will pay off $100 at the end of every year for the first 5 years ($100 year
What is the price of a security that will pay off $100 at the end of every year for the first 5 years ($100 year 1 through 5) and then every 5 years after that ($100 at the end of year 10, 15 )? The annually compounded interest rate (EAR) is 10%. (HINT: put the cash payments on a time line).
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