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A perpetuity pays $230 per year and interest rates are 8.2 percent. How much would its value change if interest rates decreased to 6.7 percent?

A perpetuity pays $230 per year and interest rates are 8.2 percent. How much would its value change if interest rates decreased to 6.7 percent? (Round your answer to 2 decimal places.) Change in value $ Did the value increase or decrease? Increase Decrease

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