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OpenStudy (anonymous):
While at university, Oswald’s aunt supported him financially. On the 1 July 2012 Oswald agreed to pay her $10 000 on 1 July 2017 and a further $10 000 on 1 July 2022. At current rates of interest on 1 July 2012, the present value of these payments was $18 762.47. What is the duration (in years) of Oswald’s liabilities to his aunt?
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