The present value of a perpetuity is equal to the payment on the annuity, PMT, divided by

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The present value of a perpetuity is equal to the payment on the annuity, PMT, divided by the interest rate, i: PV = PMT/i. What is the sum, or future value, of a perpetuity of PMT dol- lars per year? (Hint: The answer is infinity, but explain why.)

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