Find the present value of the following perpetuity. Made At: beginning Perpetuity Payment $160 Payment Period 3 months Interest Rate 4.1% Conversion Period monthly Find the present value. Do not approximate the answer. The present value is S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Find the present value of the following perpetuity. Made At: beginning Perpetuity Payment $160 Payment Period 3 months Interest Rate 4.1% Conversion Period monthly Find the present value. Do not approximate the answer. The present value is S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Find the present value of the following perpetuity.
Made
At:
beginning
Perpetuity
Payment
$160
Payment
Period
3 months
Interest
Rate
4.1%
Conversion
Period
monthly
Find the present value. Do not approximate the answer.
The present value is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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