Question: ( Exercise 4 . 3 8 ) A perpetuity provides payments every 4 months starting today. The first payment is 1 and each payment is

(Exercise 4.38) A perpetuity provides payments every 4
months starting today. The first payment is 1
and each payment is 1
% greater than the immediately preceding payment. Find the present value of the perpetuity if the effective rate of interest is 6
% per annum.
ANSWER =

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