Question: A perpetuity will pay $400 per month, starting one month from today. What is the value today of this perpetuity given an interest rate of

A perpetuity will pay $400 per month, starting one month from

A perpetuity will pay $400 per month, starting one month from today. What is the value today of this perpetuity given an interest rate of 7% APR with monthly compounding? 1 (round to the nearest dollar)

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