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1. An investor will receive quarterly payments from a perpetuity with a prevent value of 18,400 beginning 3 months from today. The nominal interest rate

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1. An investor will receive quarterly payments from a perpetuity with a prevent value of 18,400 beginning 3 months from today. The nominal interest rate is 7% convertible semi-annually. The payments are not level but begin at 30 and increase by X per payment. Calculate X

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