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What amount, invested today at 5% compounded quarterly, will support perpetual monthly payments of $800? The first payment will be made one month from now.

What amount, invested today at 5% compounded quarterly, will support perpetual monthly payments of $800? The first payment will be made one month from now.

Select one:

a. $322,700

b. $116,327

c. $160,000

d. $192,798

e. $63,997

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