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You are going to make 25 annual payments of $700, with the first payment made at the end of first year in an account that
You are going to make 25 annual payments of $700, with the first payment made at the end of first year in an account that pays 10.5% EAR. At the end of the 38th year you will begin receiving perpetuity from the account (first payment received at the end of year 38). How much will you receive, each year from the perpetuity?
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