Question: Please don't use Excel. Thank You Problem #4: A perpetuity pays $2800 at the end of every month for 11 months of each year. At

Please don't use Excel. Thank You Problem #4: A perpetuity pays

Please don't use Excel. Thank You

Problem #4: A perpetuity pays $2800 at the end of every month for 11 months of each year. At the end of the 12th month of each year, it pays double that amount. If the effective ANNUAL rate is 11.8%, what is the present value of this perpetual annuity

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