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QUESTION A perpetuity medinte pays 100 per year. Immediately after the tenth payment, the perpetuty is exchanged for a 20year annuitymediate that will pay the

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QUESTION A perpetuity medinte pays 100 per year. Immediately after the tenth payment, the perpetuty is exchanged for a 20year annuitymediate that will pay the end of the first year and subsequent annual payment will be greater than the preceding payment. The annual effective rate of interest Caltex YA) 5:48 0) 1103 D1329 E) 159.00 27

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