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A perpetuity-immediate has payments of $400 every 6-months for 5 years, after which the payments increase by k% every six months forever. At il2) =

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A perpetuity-immediate has payments of $400 every 6-months for 5 years, after which the payments increase by k% every six months forever. At il2) = 6%, the present value of this perpetuity is $29,772.42. What is k? (6 marks)

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