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Ralph has a choice between two equivalent investments a perpetuity-immediate paying 1,000 per year and a 20-year annuity-immediate with the same present value. Given an

Ralph has a choice between two equivalent investments a perpetuity-immediate paying 1,000 per year and a 20-year annuity-immediate with the same present value. Given an annual effective rate of interest of 6%. What is the annual payment for the annuity-immediate

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