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6. Problem 5.16 Click here to read the eBook: Perpetuities Problem 5-16 Present value of a perpetuity a. What is the present value of a

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6. Problem 5.16 Click here to read the eBook: Perpetuities Problem 5-16 Present value of a perpetuity a. What is the present value of a $100 perpetuity if the interest rate is 6%? Round your answer to the nearest cent. b. If interest rates doubled to 12%, what would its present value be? Round your answer to the nearest cent

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