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A rich relative has bequeathed you a growing perpetuity. The first payment will occur in a year and will be $ 2 , 0 0
A rich relative has bequeathed you a growing perpetuity. The first payment will occur in a year and will be $ Each year after that, you will receive a payment on the anniversary of the last payment that is larger than the last payment. This pattern of payments will go on foreverAssume that the interest rate is per year a What is today's value of the bequest? b What is the value of the bequest immediately after the first payment is made?
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