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I think the question ask to use perpuity? A man purchased an estate by investing $2000000. The value of the estate will increase 3% every
I think the question ask to use perpuity?
A man purchased an estate by investing $2000000. The value of the estate will increase 3% every year. He sold the estate for it's value after 15 years and adding 15% of profit on top of it. The money he obtained from the transaction was used to fund his pension. Determine the amount of money he would receive at the end of every year (interest rate= 5%)Step by Step Solution
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