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8. A perpetuity has quarterly payments of $500. Calculate at j4 = 6% its present value if (a) the first payment is in 3 months

8. A perpetuity has quarterly payments of $500. Calculate at j4 = 6% its present value if

(a) the first payment is in 3 months

(b) the first payment is in 1 year

(c) the first payment is today.

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