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Given an interest rate of 7.15 percent per year, what is the value at year...

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Finance

Given an interest rate of 7.15 percent per year, what is the value at year t = 8 of a perpetual stream of $3,485 payments that begin at year t = 20? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).

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