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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,.,n at
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. A) 17 B) 18 C) 19 D) 20 E) 21
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