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Mary is going to receive a 39-year annuity of $9,400. Nancy is going to receive a perpetuity of $9,400. If the appropriate interest rate is
Mary is going to receive a 39-year annuity of $9,400. Nancy is going to receive a perpetuity of $9,400.
If the appropriate interest rate is 12 percent, how much more is Nancys cash flow worth? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Present value $
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Handbook Of The Economics Of Finance Volume 2A
Authors: George M. Constantinides, Milton Harris, Rene M. Stulz
1st Edition
