Question
Your elderly uncle left you an annuity that will pay $100 next year and grow at an annual rate of 4%. The payment are expected
Your elderly uncle left you an annuity that will pay $100 next year and grow at an annual rate of 4%. The payment are expected to go on indefinitelty and the interest rate is 7%. What is the value of the growing perpetity?
1429
2500
2575
3333
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Budgets And Financial Management In Higher Education
Authors: Margaret J. Barr, George S. McClellan
3rd Edition
1119287731, 9781119287735
