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Problem 5-47 Annuity and Perpetuity Values [LO 1] Mary is going to receive a 37-year annuity of $10,200. Nancy is going to receive a perpetuity

Problem 5-47 Annuity and Perpetuity Values [LO 1]

Mary is going to receive a 37-year annuity of $10,200. Nancy is going to receive a perpetuity of $10,200.

Required:

If the appropriate interest rate is 10 percent, how much more is Nancy

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