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Candy will receive $ 2 0 , 0 0 0 per year forever. However, the first payment will be made two years from today, and
Candy will receive $ per year forever. However, the first payment will be
made two years from today, and payments will be every months. In other words, she will
receive $ every months, starting years from today. If her eective annual
discount rate is what is the PV of this stream of payments?
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