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What rate of return is a perpetuity offering if it costs $12,000 to purchase it and it won't begin making annual payments for 6 years?

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What rate of return is a perpetuity offering if it costs $12,000 to purchase it and it won't begin making annual payments for 6 years? The first annual payment will be $995 and the payments are expected to grow by 1.60% each year

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