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15. What is the present value of a perpetuity of $5,000 invested at a rate of 12%? 16. Your cousin has just invested in a

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15. What is the present value of a perpetuity of $5,000 invested at a rate of 12%? 16. Your cousin has just invested in a consul bond that promises to pay $200 per year into perpetuity. She would like to know the final ending value of the bond. 17. What is the effective annual rate of interest on your credit card if the nominal rate is 18% per year, compounded monthly

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