Question: I need to know how to work out the problem by hand. Thanks for any and all help! 24. A perpetuity pays $100 each and

I need to know how to work out the problem by hand. Thanks for any and all help!

I need to know how to work out the problem by hand.

24. A perpetuity pays $100 each and every year forever. The modified modified duration of this perpetuity will be if its yield is 9%. A) 7 B) 2 C) 9.39D) 11.11

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