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What will payments be if the funds can be invested to earn

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Reference no: EM132591869

Mr. Larsen's will directed that $700,000 be invested to establish a perpetuity making payments at the end of each month to his wife for as long as she lives and subsequently to the Canadian Heart Foundation.

Question 1: What will the payments be if the funds can be invested to earn 6.6% compounded monthly? (Do not round intermediate calculations and round your final answer to the nearest dollar.)

Reference no: EM132591869

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