question 12

Assuming a discount rate of 5.10% p.a., an investor will be indifferent between receiving $ today and receiving $100 per year forever, with the first payment to be received exactly four years from today (at t = 4). O 1) 1,312.00 2) 1,548.39 3) 1,615.99 4) 1,454.76 5) 1,688.97