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A perpetuity costs 77.1 and makes end-of-year payments. The perpetuity pays 1 at the end of year 2, 2 at the end of year 3;
A perpetuity costs 77.1 and makes end-of-year payments. The perpetuity pays 1 at the end of year 2, 2 at the end of year 3; : : : :; n at the end of year n+1. After year n+1, the payments remain constant at n. The annual effective interest rate is 10.5%. Calculate n.
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