Question
An annuity due in perpetuity pays X at the beginning of each year for 11 years and starting at the beginning of the 12th year
An annuity due in perpetuity pays X at the beginning of each year for 11 years and starting at the beginning of the 12th year increases by 2% each year. Find X if effective annual interest i = 6% and the present value is $3,300.
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Open Market Operations And Financial Markets
Authors: David Mayes , Jan Toporowski
1st Edition
0415417759, 978-0415417754
