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A level Perpetuity immediate is to be shared by 3...

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A level Perpetuity immediate is to be shared by 3 charities providing medical research and a fourth charity providing assistance to the children of veterans. For n years, the three research charities will receive the payments equally. Thereafter, all payments will go to the children's charity. It is reported that the present value of each charities bequest is equal when calculated with an annual effective interest rate of 12.25%. Find n

 

Paper#8567 | Written in 18-Jul-2015

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