Perpetuities An investor purchasing a British consol is entitled to receive annual payments from the British government

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Perpetuities An investor purchasing a British consol is entitled to receive annual payments from the British government forever. What is the price of a consol that pays $150 annually if the next payment occurs one year from today? The market interest rate is 4.6 percent.

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Corporate Finance With Connect Access Card

ISBN: 978-1259672484

10th Edition

Authors: Stephen Ross ,Randolph Westerfield ,Jeffrey Jaffe

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