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Detailed solutions please Christine has inherited $1 million. She has decided to use herinheritance to...

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Accounting

Detailed solutions please Christine has inherited $1 million. She has decided to use herinheritance to purchase one of the following.

a. A 30 year annuity immediate with annual payments of P.

b. A perpetuity due with quarterly payments of 19,607.84 . Both options are based on the same interest rate. Calculate P.

DO NOT COPY FROM CHEGG I NEED A FULL EXPLANATION

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