Question
A perpetuity pays$4300 at the end of every month for 11 months of each year. At the end of the 12th month of each year,
A perpetuity pays$4300 at the end of every month for 11 months of each year. At the end of the 12th month of each year, it pays double that amount. If the effective ANNUAL rate is 9%, what is the present value of this perpetual annuity?
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Exchange Rates and International Finance
Authors: Laurence Copeland
6th edition
273786040, 978-0273786047
