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Using a discount rate of 9.6% APR, compounded monthly, calculate the present value of a monthly perpetuity consisting of $5200 payments if: (a) the first
Using a discount rate of 9.6% APR, compounded monthly, calculate the present value of a monthly perpetuity consisting of $5200 payments if: (a) the first payment is made today (2 pts.),
(b) the first payment is made one month from now (2 pts.), and (c) the first payment is made 42 months from now (2 pts.).
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