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Using rate i per time unit, the present value at time 0 of a perpetuity with payments of P per time period commencing at time
Using rate i per time unit, the present value at time 0 of a perpetuity with payments of P per time period commencing at time 4 is
1. P/i/(1+i)3
2. P/i/(1+i)4
3. P/i(1+i)4
4. P/i
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