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Medium term notes (MTNs) are debt instruments that typically have maturities ranging from 5 to 10 years, making this answer accurate as it captures the generally accepted timeframe for these financial instruments. These notes are often used by corporations and financial institutions to raise capital in a flexible manner, allowing them to meet various financing needs over a medium-term horizon. The 5 to 10-year maturity range allows issuers to avoid the long-term commitment that comes with longer maturities, while still providing them with sufficient time to manage their financing strategy effectively.

In contrast, the other options either extend the maturity period beyond the standard range for MTNs or fall short of the common understanding of this financial category. This reinforces why the specified range of 5 to 10 years is recognized as the appropriate maturity for medium term notes.