Question
An annuity pays $300 once a year forever, and its first payment is today. Calculate the present value of the perpertuity. Assume that the annual
An annuity pays $300 once a year forever, and its first payment is today. Calculate the present value of the perpertuity.
Assume that the annual effective interest rate is 4%. Round the answer to the nearest hundreds.
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Essentials Of Corporate Finance
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D. Jordan
9th International Edition
1259254801, 9781259254802
