Question
Today, an investment that makes payments every year forever sells for $1,000. The payments will grow at 1.25% annually and the next payment amount is
Today, an investment that makes payments every year forever sells for $1,000. The payments will grow at 1.25% annually and the next payment amount is $100. If you purchase this investment today, what annual rate of interest will you earn with this investment?
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Financial Institutions Management
Authors: Anthony Saunders
3rd Edition
007303259X, 978-0073032597
