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Joe purchases a perpetuity for 20300. The perpetuity will make payments at the beginning of each quarter with the initial payment being size X. Each

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Joe purchases a perpetuity for 20300. The perpetuity will make payments at the beginning of each quarter with the initial payment being size X. Each subsequent payment will be 3 more than the previous payment. Interest is credited at an annual nominal interest rate of 6% compounded quarterly. Find X

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