Question
Consider the following series of payments made at the end of each year at an interest rate of 4%. 3, 2, 2, 1, 3, 2,
Consider the following series of payments made at the end of each year at an interest rate of 4%.
3, 2, 2, 1, 3, 2, 2, 1, 3, 2, 2, 1, ...
What is the present value of this perpetuity?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakin
7th Global Edition
0273754440, 9780273754442
