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Bob buys a perpetuity that pays $20 at the end of each year with the first payment occurring 1 year from now for $400 He

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Bob buys a perpetuity that pays $20 at the end of each year with the first payment occurring 1 year from now for $400 He could have purchased a perpetuity that pays $X at the end of each 6 months, starting 6 months from now that earns the same effective annual rate. Find $X. $400

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