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Paul purchases a perpetuity-immediate paying $200 at the end of every quarter. An annual nominal interest rate of 8% compounded quarterly is applied. Calculate the

image text in transcribedimage text in transcribedimage text in transcribed Paul purchases a perpetuity-immediate paying $200 at the end of every quarter. An annual nominal interest rate of 8% compounded quarterly is applied. Calculate the present value of this perpetuity. Calculate the modified duration of this perpetuity. (Note: Make sure to specify the time unit of the duration.)image text in transcribedimage text in transcribedimage text in transcribed

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