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(1 point) (Exercise 4.38) A perpetuity provides payments every 6 months starting today. The first payment is 1 and each payment is 1% greater than

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(1 point) (Exercise 4.38) A perpetuity provides payments every 6 months starting today. The first payment is 1 and each payment is 1% greater than the immediately preceding payment. Find the present value of the perpetuity if the effective rate of interest is 6% per annum. ANSWER =

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