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Please clearly indicate all steps taken to solve the question. Thank you! Problem #4: A perpetuity pays $1300 at the end of every month for

Please clearly indicate all steps taken to solve the question. Thank you!

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Problem #4: A perpetuity pays $1300 at the end of every month for 11 months of each year. At the end of the 12th month of each year, it pays double that amount. If the effective ANNUAL rate is 9.3%, what is the present value of this perpetual annuity? Problem #4: 3564.11 Answer correct to 2 decimals Just Save Your work has been saved! (Back to Admin Page) Submit Problem #4 for Grading Problem #4 | Attempt #1 Your Answer 3564.11 Attempt #2 | Attempt #3 Attempt #4 Attempt #5 Your Mark: 0/2x

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