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What is the present value at a $50,000 growing perpetuity beginning immediately if the interest rate is 7% and payments grow annually at 1.5%? The

What is the present value at a $50,000 growing perpetuity beginning immediately if the interest rate is 7% and payments grow annually at 1.5%? The answer is972727.27. Show the work for this answer. If can be calculated on financial calculator give steps.

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