Consider a security issue by Spanish Word Ltd that provides that, in return for receiving 24,099 today (2008) from investors, they will pay back 100,000 in 30 years. a) Would you be willing to pay 24,099 today in exchange for 100,000 in 30 years? What would be the key considerations in answering yes or no? Would your answer depend on who is making the promise to repay? [8 Marks] b) Based on the 24,099 price, what rate was Spanish Word paying to borrow money? [5 Marks] c) Suppose that in 2020 this security's price is 38,260. If an investor had purchased it for 24,099 in 2010 and sold it in 2020, what annual rate of return would she have earned? If an investor had purchased the security at market in 2020, and held it until it matured, what annual rate of return would she have earned? [12 Marks]