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Payment made every year forever

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1.Approximately how many years are needed to double a $100 investment when interest rates are 8.00 percent per year? (Round your answer to 2 decimal places.)

2. What's the present value, when interest rates are 7.5 percent, of a $245 payment made every year forever? (Round your answer to 2 decimal places.)

Reference no: EM131693330

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