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After retirement, Cady plans to buy bonds in a perpetual fund. What amount must he place in a perpetual fund today, if it earns 4.8%

After retirement, Cady plans to buy bonds in a perpetual fund. What amount must he place in a perpetual fund today, if it earns 4.8% compounded semi-annually and the first monthly payment of $500 in perpetuity will be made one year from today? Question 14 options: 120,396 126,244 119,629 120,873

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