Find perpetuity costs using given data

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Question: A perpetuity costs X now and makes monthly payments at the end of the month starting two months from now. The perpetuity pays 3 at the end of month 2, 4 at the end of month 3, ...52 at the end of month 51. After month 51, the payments remain constant at 52. The nominal interest rate compounded monthly is 12%. Find X.

Reference no: EM132032194

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