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MATHEMATICAL INTREST THEORY

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John receives a perpetuity paying 90 at the end of each year. The annual effective interest rate is 6%. Calculate the present value of this perpetuity. A loan for 10,000 with annual effective rate 7% must be repaid with n annual level payments of 1,500 plus a balloon payment one year after the n-th payment. Calculate n. (Hint: n needs to be an integer)