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The present values of the following three annuities are equal: (i) perpetuity-immediate paying 1 each year, calculated at an annual effective interest rate of 9.88%.
The present values of the following three annuities are equal:
(i) perpetuity-immediate paying 1 each year, calculated at an annual effective interest rate of 9.88%.
(ii) 36-year annuity-immediate paying 1 each year, calculated at an annual effective interest rate of %.
(iii) -year annuity-immediate paying 1 each year, calculated at an annual effective interest rate of (1)%.
Calculate .
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