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Suppose Claudia is immediately entitled to an annuity of $ 1 5 0 0 in perpetuity. What is the present value - the maximum value

Suppose Claudia is immediately entitled to an annuity of $

1500

in perpetuity. What is the present value

-

the maximum value she would receive if she wanted to sell it

?

You can use a

16 %

interest rate.

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