Use the following information for the next two questions:
On March 28, 2008, Toyota Motor Credit Corporation (TMCC), a subsidiary of Toyota Motor, offered some
securities for sale to the public. Under the terms of the deal, TMCC promised to repay the owner of one of these
securities $100,000 on March 28, 2038, but investors would receive nothing until then. Investors paid TMCC
$24,099 for each of these securities; so they gave up $24,099 on March 28, 2008, for the promise of a $100,000
payment 30 years later.