Question: A perpetuity is to pay $23,000 at the end of every six months. How much less money is required to fund the perpetuity if

A perpetuity is to pay $23,000 at the end of every six

A perpetuity is to pay $23,000 at the end of every six months. How much less money is required to fund the perpetuity if the money can be invested to earn 5% compounded semiannually instead of 4% compounded semiannually? (Do not round intermediate calculations.) less money is required %24

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