Perpetuity: Your grandfather is retiring at the end of next year. He would like to ensure that

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Perpetuity: Your grandfather is retiring at the end of next year.

He would like to ensure that his heirs receive payments of $10,000 a year forever, starting when he retires. If he can earn 6.5 percent annually, how much does your grandfather need to invest to produce the desired cash flow?

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Fundamentals Of Corporate Finance

ISBN: 9781119795438

5th Edition

Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates

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