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Brodie receives $500 every 12 months forever, starting 20 months from today. If his stated...

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Question

Finance

Brodie receives $500 every 12 months forever, starting 20 months from today. If his stated annual interest rate is 14% compounded monthly, what is the present value of this perpetuity?

Select one:

a. $3,350

b. $3,050

c. $3,250

d. $3,600

e. $3,000

Answer & Explanation Solved by verified expert
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