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a trust manager is organizing a fund that will provide annual cash flows that continue forever. The manager wishes to provide a payment of $4,000
a trust manager is organizing a fund that will provide annual cash flows that continue forever. The manager wishes to provide a payment of $4,000 per year, beginning next year, and wants the payment to increase by 4% per year. The trust manager believes she can earn 12% per year on investment. How much should she invest now. (unit in dollars)
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