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( Related to Checkpoint 6 . 4 ) ( Present value of a perpetuity ) What is the present value of a $ 3 ,

(

Related to Checkpoint

6.4) (

Present value of a perpetuity

)

What is the present value of a $

3, 500

perpetuity discounted back to the present at

11

percent?

The present value of the perpetuity is $

, (

Round to the nearest cent.

)

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