An investment offers $$4,000$ every quarter for $20$ years, with the first payment occurring $1$ quarter from now. If the required return is $8$ percent, what is the value of the investment?

An investment offers $$4,000$ every quarter for $20$ years, with the first payment just occurred. If the required return is $8$ percent, what is the value of the investment?

An investment offers $$4,000$ every quarter forever. If the required return is $8$ percent, what is the value of the investment?