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British government 3 . 7 % perpetuities once paid 3 . 7 interest each year forever. Another bond, 2 . 2 % perpetuities, paid 2

British government 3.7% perpetuities once paid 3.7 interest each year forever. Another bond, 2.2% perpetuities, paid 2.20 a year forever.What was the value of 3.7% perpetuities if the long-term interest rate was 5.7%?

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