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The following two perpetuities have the same present values. Determine the annual effective interest rate k. A perpetuity paying $600 a year. The first payment

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The following two perpetuities have the same present values. Determine the annual effective interest rate k. A perpetuity paying $600 a year. The first payment is today. (1) A perpetuity paying $650 a year. The first payment is a year from today. 0 7.5% 8.3% 08.09 7.79 12.096 Such k does not exist

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