Multiple Choice
A perpetuity pays $550 at the end of every month.The PV of the perpetuity is $36,000.What is the effective interest rate (EIR) on the perpetuity?
A) 19.95%
B) 18.33%
C) 9.17%
D) 13.42%
E) 15.15%
Correct Answer:
Verified
Correct Answer:
Verified
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