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A fund is being created to pay out monthly payments of $475.
How much more money would be needed to establish the fund if the payments were to last forever instead of for 10 years?
Assume an interest rate of j12=12%.
Answer:
(14,392.25)
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International Financial Management
Authors: Cheol Eun, Bruce G. Resnick
8th edition
125971778X, 978-1259717789
