Question: How much would you pay for a security which pays $500 (the first payment coming three years from today) every three years. Payments grow by

How much would you pay for a security which pays $500 (the first payment coming three years from today) every three years. Payments grow by 2%. What is the year-10 value (i.e., future value) of this stream of cash flow? The discount rate is 5% per year

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