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2b Wrap Text Accounting BIU v 141 Merge & Center $ ~ % 9 8 98 Conditiona board Font Formatting Alignment Number X U LU LL I P6-3 You learn that your favorite grandfather plans to give you a perpetuity payment upon graduation. The amount of the payment will be $5,000 per year. In determining the present value of that payment, you believe you could earn an average return of 8% on your investments over the long-term. a.) What would be the present value of the perpetuity payment to you? b.) If you were to be offered $50,000 instead of the perpetuity payment, which would you take? Why? c.) Your grandfather has decided that since you are a good steward of financial resources, he will increase the perpetuity, but test your financial skills at the same time. He says he will either give you the $5,000 but increase the payment by 3% per year or he will give you $75,000. Which offer will you take? Hint: See formula 6-5 on page 173 or on Powerpoint slide 14 Perpetuity PMT 5,000 8.0% O #NUM! see Hint above; this is not an Excel PV formulaCO LL U I Hint: See formula 6-5 on page 173 or on Powerpoint slide 14 Perpetuity PMT ur 5,000 8.0% O #NUM! see Hint above; this is not an Excel PV formula Perpetuity PMT 5,000 8.0% 3.0%