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e ) What is the present value today of a 1 5 - year annuity of $ 1 , 5 0 0 per payment if

e) What is the present value today of a 15-year annuity of $1,500 per payment if the discount
rate is 10% and the first payment is 10 years from now?
f) What is the present value today of a growing perpetuity if first payment is $500 and each
successive payment grows at 2%? Assume the discount rate is 10% and the first payment is 5 years
from now?
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