A perpetuity consists of yearly increasing payments of (1+k),(1+k)2,(1+k)3, etc., commencing at the end of the first year. At an annual effective interest rate of 4%, the present value of the perpetuity at time t=0 is 51 . Determine k. A perpetuity consists of yearly increasing payments of (1+k),(1+k)2,(1+k)3, etc., commencing at the end of the first year. At an annual effective interest rate of 4%, the present value of the perpetuity at time t=0 is 51 . Determine k