The present value of a series of $5 at the end of every 5 years, forever, is equal to $20. i. Calculate the effective rate of interest. ii. What is the accumulated value of $9400 invested for 10 years after a 6% discount is paid at the beginning of the investment period?  Please i need answer for only subpart ii

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: The Basic Tools Of Finance
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The present value of a series of $5 at the end of every 5 years, forever, is equal to $20.

i. Calculate the effective rate of interest.

ii. What is the accumulated value of $9400 invested for 10 years after a 6% discount is paid at the beginning of the investment period? 

Please i need answer for only subpart ii

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