Question
Mary is going to receive a 34-year annuity of $8,900. Nancy is going to receive a perpetuity of $8,900. If the appropriate interest rate is
Mary is going to receive a 34-year annuity of $8,900. Nancy is going to receive a perpetuity of $8,900.
If the appropriate interest rate is 12 percent, how much more is Nancys cash flow worth?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Present value $
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CFIN
Authors: Scott Besley, Eugene Brigham
5th edition
1305661656, 9781305888036 , 978-1305666870
