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Susan purchases a perpetuity for $12,000. The perpetuity pays P at the end of every odd year (years 1, 3, 5...) and 1.5P at the
Susan purchases a perpetuity for $12,000. The perpetuity pays P at the end of every odd year (years 1, 3, 5...) and 1.5P at the end of every even year (years 2, 4, 6...). If the annual effective interest rate is 8%, what is P? A 656 B 706 774 D 836 E 960
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