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Hi Can you answer this question for me A perpetuity makes continuous payments commencing now. The rate of payment decreases geometrically in annual steps. The

Hi Can you answer this question for me

A perpetuity makes continuous payments commencing now. The rate of payment decreases geometrically in annual steps. The rate of payment in the first year will be $12,000 p.a. In each subsequent year, the rate of payment will reduce by 2.7%.

Determine the present value of the perpetuity at an interest rate of 8.6% p.a.

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