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A Perpetuity Pays $550 at the End of Every Month

Question 36

Multiple Choice

A perpetuity pays $550 at the end of every month.The PV of the perpetuity is $36,000.What is the monthly periodic rate on the perpetuity?

A) 1.53%
B) 1.62%
C) 1.85%
D) 2.04%
E) 3.25%

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