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Present value of a growing perpetuity As a result of winning the Gates Energy Innovation...

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Present value of a growing perpetuity As a result of winning the Gates Energy Innovation Award you are awarded a growing perpetuity The first payment will occur in a year and will be for 20 000 You will continue receiving monetary awards annually with each award increasing by 6 percent over the previous award and these monetary awards will continue forever If the appropriate interest rate is 14 percent what is the present value of this award The present value of the award is Round to the nearest cent Points U of 1 IIB

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