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how do i get to the answer of 2.081 years P 2.17 A sum of $20,000 is used to buy a deferred perpetuity-due that pays
how do i get to the answer of 2.081 years
P 2.17 A sum of $20,000 is used to buy a deferred perpetuity-due that pays $2,100 every year for the first 5 years and $1,000 per year thereafter. If the annual effective rate is 6%, find the deferred period Step by Step Solution
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