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3. (Perpetual annuity, 2 points) How much should you have today in an account with monthly compounding and annual interest rate of 5% to receive

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3. (Perpetual annuity, 2 points) How much should you have today in an account with monthly compounding and annual interest rate of 5% to receive $2,000 per month forever? 4. (Social Security benefits, 4 points) We present a simplified problem to illustrate Social

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