Question
A prestigious investment bank designed a new security that pays a quarterly dividend of $4.50 in perpetuity. The first dividend occurs one quarter from today.
| A prestigious investment bank designed a new security that pays a quarterly dividend of $4.50 in perpetuity. The first dividend occurs one quarter from today. |
| What is the price of the security if the stated annual interest rate is 6.5 percent, compounded quarterly?(Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
|
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Banking And Finance Managing The Moral Dimension
Authors: James Lynch
1st Edition
1855731762, 978-1855731769
