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Business, 30.10.2019 07:31 dee5896

On january 1, 1988, felix inherited a perpetuity with annual payments beginning in six months. the first payment was $3,000, and after that the payments increased by 3% each year. find the value of this perpetuity on january 1, 1995 if the annual effective interest rate was 6% from january 1, 1988 through january 1, 1996 and 4% thereafter.

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