Time Value of Money: Perpetuities An annuity that goes on indefinitely is called a perpetuity. The payments of a perpetuity constitute a/an infinite series. The equation is: PV of a perpetuity PMT A preferredstock with no maturity is an example of a perpetuity. Quantitative Problem: You own a security that provides an annual dividend of $105 forever. The | security's annual return s 8%, what is the present value of this security? Round your answer to the nearest cent