n annuity that goes on indefinitely is called a perpetuity. The payments of a perpetuity constitute a$/$an

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series. The equation is:

A

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stock with no maturity is an example of a perpetuity.

Quantitative Problem: You own a security that provides an annual dividend of $$190$ forever. The security$$s annual return is $8\%.$ What is the present value of this security? Round your answer to the nearest cent.

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