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You buy an unusual bond. The first payment is after 5 years and it is 10 million. ISK Then there are annual payments for the

You buy an unusual bond. The first payment is after 5 years and it is 10 million. ISK Then there are annual payments for the next 699 years and they are always 5% lower than the last payment. Therefore, the bond pays annual payments for exactly 700 years! You buy the bond at a 12% yield. How much do you pay for the bond? In excel

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ISE Analysis For Financial Management

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