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A perpetuity pays 110 at the beginning of each month forever. The nominal annual interest rate is 6.4% compounded semiannually. Compute the present value of

A perpetuity pays 110 at the beginning of each month forever. The nominal annual interest rate is 6.4% compounded semiannually. Compute the present value of this perpetuity. Possible Answers A 20,898 B 21,008 c 21,195 D 20,735 E 20,952

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