Question
As a result of winning the Gates Energy Innovation Award, you are awarded a growing perpetuity. The first payment will occur in a year and
As a result of winning the Gates Energy Innovation Award, you are awarded a growing perpetuity. The first payment will occur in a year and will be for
$30,000.
You will continue receiving monetary awards annually with each award increasing by
6
percent over the previous award, and these monetary awards will continue forever. If the appropriate interest rate is
11
percent, what is the present value of this award?
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Financial Management For Nonprofit Organizations Policies And Practices
Authors: Jo Ann Hankin, John Zietlow, Alan Seidner, Tim O'Brien
3rd Edition
1119382564, 9781119382560
