Question
Kim invests $ 150,000 in a perpetuity-due that will pay her $X at the beginning of each year with the first payment to start 10
Kim invests $ 150,000 in a perpetuity-due that will pay her $X at the beginning of each year with the first payment to start 10 years from now. The effective annual interest rate is 5.1%.
What is X?
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Public Finance In Canada
Authors: Harvey S. Rosen, Wen, Snoddon
4th Canadian Edition
0070071837, 978-0070071834
