Question: em # 4 : A perpetuity pays ( $ 2 3 0 0 ) at the end of every month for

em \#4: A perpetuity pays \(\$ 2300\) at the end of every month for 11 months of each year. At the end of the 12 th month of each year, it pays double that amount. If the effective ANNUAL rate is \(8.5\%\), what is the present value of this perpetual annuity?
Problem \#4:
Answer correct to 2 decimals.
Submit Problem \#4 for Grading
em \ # 4 : A perpetuity pays \ ( \ $ 2 3 0 0 \ )

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