Consider an T-period annuity that pays X next period. After that, the payments grows at a rate
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Consider an T-period annuity that pays X next period. After that, the payments grows at a rate of g per year for the next T years.
The present value of the annuity is
Can you find a simplified expression for this present value?
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Related Book For 
Lectures On Corporate Finance
ISBN: 9789812568991
2nd Edition
Authors: Peter L Bossaerts, Bernt Arne Odegaard
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