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11. Problem 5.16 (Present Value of a Perpetuity) eBook What is the present value of a $700 perpetuity if the interest rate is 4%?

11. Problem 5.16 (Present Value of a Perpetuity) eBook What is the present value of a $700 perpetuity if the interest rate is 4%? If interest rates doubled to 8%, what would its present value be? Round your answers to the nearest cent Present value at 4%: $ Present value at 8% $

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