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An investor deposits $8,000 into a fund at t=0 and additional $10,000 at t=1. He...

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Finance

An investor deposits $8,000 into a fund at t=0 and additional $10,000 at t=1. He then receives cash inflows starting at t=2. The first payment is $3,000 and subsequent annual payments increase by 3% per annum into perpetuity. What is the smallest required rate in order that the net present value of the investment be positive?

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