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a. Derive an expression for the value and duration of a perpetuity of $c per...

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a. Derive an expression for the value and duration of a perpetuity of $c per annum if interest rates are level at r %? The following sums of infinite series might prove useful for your solution: x + x2 + x3 +... = 1 1- x x + 2x2 + 3x3+... = (1 - x)2

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