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What is the value of a British consol (a British government security without a maturity date, i.e. a perpetual stream of future cash flows) that
What is the value of a British consol (a British government security without a maturity date, i.e. a perpetual stream of future cash flows) that promises to pay $15 each year, every year until the sun turns into a red giant and burns the planet to a crisp? The interest rate is 10-percent
PV=?
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