Question
An investment promises to pay you $1,400 per year forever with the first payment today. If alternative investments of similar risk earn 3.08% per year,
An investment promises to pay you $1,400 per year forever with the first payment today. If alternative investments of similar risk earn 3.08% per year, determine the maximum you would be willing to pay for this investment.
Enter your response below (rounded to 2 decimal places).
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Foundations Of Financial Management
Authors: Stanley B Block, Geoffrey A Hirt
12th Edition
0073295817, 9780073295817
