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. Show all working.
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Labor and Employment Law Text and Cases
Authors: David Twomey
15th edition
1133188281, 978-1133711841, 1133711847, 978-1285247632, 978-1133188285
