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A family purchases a perpetuity-immediate that provides annual payments that decrease by 0.4% each year. The price of the perpetuity is 10,000 at an annual

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A family purchases a perpetuity-immediate that provides annual payments that decrease by 0.4% each year. The price of the perpetuity is 10,000 at an annual force of interest of 0.06. Calculate the amount of the perpetuity's first payment: 604 620 640 658 678

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