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Someone has decided to give a grant to a charitable organization. The latter will have to receive $ 50 each end of the month, in
Someone has decided to give a grant to a charitable organization. The latter will have to receive $ 50 each end of the month, in perpetuity. The current nominal interest rate is 5%, capitalized semi-annually. How much will the person have to pay the bank now in order for them to commit to making the installments?
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