Question: A financial security will make payments to the holder at the end of each of the next 25 years. The first payment, one-year from today

A financial security will make payments to the holder at the end of each of the next 25 years. The first payment, one-year from today will be 10,000. The payments will then grow at a rate of 2% per year to cover inflation. Given a discount rate of 4% compounded annually, how much would you pay today for this security?

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