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To find out, we repeat the present value calculations with 9 years instead of 10, and a 10% yield instead of 8% yield. First the present value of the MK 1,000 paid in nine years at 10% is: - Second, the bond offers MK 80 per year for 10 years; the present value of this annuity stream is: - We can now add the values for the two parts together to ... ................
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