Question: Please explain with formula and calculator function Mary is going to receive a 33-year annuity of $8,800. Nancy is going to receive a perpetuity of

Please explain with formula and calculator function

Mary is going to receive a 33-year annuity of $8,800. Nancy is going to receive a perpetuity of $8,800. If the appropriate interest rate is 11 percent, how much more is Nancy's cash flow worth? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present value

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