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If the effective annual rate is 94 what is the present

A perpetuity pays $2700 at the end of every month for 11 months of each year. At the end of the 12th month of each year, it pays double that amount. If the effective ANNUAL rate is 9.4%, what is the present value of this perpetual annuity? Answer correct to 2 decimals.

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Finance Basics: If the effective annual rate is 94 what is the present

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