A debt instrument pays 10m in the end of one year zero for, Finance Basics

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A debt instrument pays 10m in the end of one year zero for

Question: A debt instrument pays $10M in the end of one year, $zero for the next 8 years and then $100M at the end of the 10th year. The market rate is 5%. What is the duration of the instrument? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Finance Basics: A debt instrument pays 10m in the end of one year zero for

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