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Inverval National Insurance Company is selling a perpetuity that will make equal payments of $100...

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Finance

Inverval National Insurance Company is selling a perpetuity that will make equal payments of $100 starting at the end of year 12. They have offered the following payment schedule: you would pay $103 in 4 years, $288 in 8 years, and an upfront fee today. How much do you have to pay today where the interest rate is 2.48%?

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