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Question 9 You are offered a novel financial instrument that pays nothing during the first...

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Question 9 You are offered a novel financial instrument that pays nothing during the first four years, pays $5,000 in year five, and from there annually, what is the value of the instrument? Express your answer with two decimals. here on annual payments grow at 8% per year for a total of 18 payments. If the interest rate is 4% per year compounded Question 9 You are offered a novel financial instrument that pays nothing during the first four years, pays $5,000 in year five, and from there on a annually, what is the value of the instrument? Express your answer with two decimals. 5,000 in year five, and from there on annual payments grow at 8% per year for a total of 18 payments. If the interest rate is 4% per year compounded

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