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For a special annual perpetuity-due: (i) The first payment is 500. (ii) Each subsequent year payments decrease by 20 until a payment of 300 is
For a special annual perpetuity-due: (i) The first payment is 500. (ii) Each subsequent year payments decrease by 20 until a payment of 300 is paid. (iii) Payments remain level at 300 thereafter. Calculate the present value of this perpetuity at an annual effective interest rate of 6%. Select one: a. 5730 b. 5880 C. 6030 d. 6180 e. 6230
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