Question: What is the interest rate, r when the present value of a perpetuity is $ 9 7 , 4 0 0 and the payments are

What is the interest rate, r when the present value of a perpetuity is $97,400 and the payments are
$1,000? The first payment occurs one year from now. Enter your answer as a percentage. Do not include
the percentage sign in your answer.
Enter your response below (rounded to 2 decimal places).
%
What is the interest rate, r when the present value of

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