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Derek receives a perpetuity. It has annual payments with the first payment in exactly eight years. The first payment is $10,000, the secont payment is

Derek receives a perpetuity. It has annual payments with the first payment in exactly eight years. The first payment is $10,000, the secont payment is $15,000, and then the payments alternate between $10,000 and $15,000 until there have been a total of thirty payments. After that, the payments are all $10,000. Find the present value of this perpetuity if the effective interest rate is 4%. Answer is 222,186.6203

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