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You are starting a club in New York City. The club will bring profits of $50,000 every six months, growing at 4% per six-month period,

  1. You are starting a club in New York City. The club will bring profits of $50,000 every six months, growing at 4% per six-month period, forever. You will keep the club for 4 years, and sell it immediately after receiving the 8th payment. How much is the business worth today? Assume APR = 20%.

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