Question
A payment of $X is to be paid once per year in perpetuity, with the first payment made exactly 3.25 years from now. In order
A payment of $X is to be paid once per year in perpetuity, with the first payment made exactly 3.25 years from now.
In order for the present value of this perpetuity to be equal to $783.25 at an interest rate of i^(3)=6.6%, what is the value of X? Give your answer to the nearest cent
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Basic Mathematics With Early Integers
Authors: Charles P McKeague
1st Edition
1936368978, 9781936368976
