Question: Rex Hudler is looking at a ten - year security pays $ 3 , 8 5 0 a year at the end of each of

Rex Hudler is looking at a ten-year security pays $3,850 a year at the end of each of the next five years (t =1,2,3,4,5). After the fifth year, the security pays some constant cash flow at the end of the next four years (t =6,7,8,9). The security sells for $32,400 and promises a rate of return of 4.6% compounded annually. What annual cash flow does Rex's security pay for years 6 through 9?

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