Question
To pay for a new highway the local government sells a perpetuity that promises to pay $1 000 a year from now until the end
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To calculate the present value of a perpetuity you can use the formula PV CFr Where PV ...Get Instant Access to Expert-Tailored Solutions
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Get StartedRecommended Textbook for
Advanced Financial Accounting
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
6th edition
013703038X, 978-0137030385
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