What is the present value of a security that will pay 5, 000 in 20 years if securities of equal risk pay 7% annually?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter6: Fixed-income Securities: Characteristics And Valuation
Section: Chapter Questions
Problem 8P
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What is the present value of a security that will pay 5, 000 in 20 years if securities of equal risk pay 7% annually?
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