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Julie inherited a perpetuity with a 5225,000 payment next year and payment growth of 2.5%...

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Accounting

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Julie inherited a perpetuity with a 5225,000 payment next year and payment growth of 2.5% each year thereafter. Julle knows the principal for the perpetuity is invested in an account yielding 7% APR How much is the principal in the account? $5,000,000.00 $3,250,000.00 $7,500,000.00 $9,000,000 $5 million

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