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An investor purchasing a British consol is entitled to receive annual payments from the British government forever. What is the price of a consol that
| An investor purchasing a British consol is entitled to receive annual payments from the British government forever. |
| What is the price of a consol that pays $200 annually if the next payment occurs one year from today? The market interest rate is 5.1 percent. (Round your answer to 2 decimal places, e.g., 32.16.) |
| Price | $ |
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