An investor purchasing a British consol is entitled to receive annual payments from the British government forever.
Fantastic news! We've Found the answer you've been seeking!
Question:
An investor purchasing a British consol is entitled to receive annual payments from the British government forever.
What is the price of a consol that pays $190 annually if the next payment occurs one year from today? The market interest rate is 5 percent.(Round your answer to 2 decimal places, e.g., 32.16.)
Price$
Expert Answer:
Posted Date:
