Emilio deposits $1,000 at the end of each year for 5 years into a savings...
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Accounting
Emilio deposits $1,000 at the end of each year for 5 years into a savings account that earns 5% annually. For the next 5 years, he deposits nothing. At the end of year 10, Emilio uses the accumulated amount to purchase a perpetuity that pays Pat the end of each year. What is P?
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