Hamid invests in a perpetuity with an interest rate of 2.3%p.a. compounding six-monthly and then donates the payment to a charity of his choice. How much did he invest if he donates $460 twice a year?

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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9.
Hamid invests in a perpetuity with an interest rate of 2.3%p.a.
compounding six-monthly and then donates the payment to a charity of
his choice. How much did he invest if he donates $460 twice a year?
Transcribed Image Text:9. Hamid invests in a perpetuity with an interest rate of 2.3%p.a. compounding six-monthly and then donates the payment to a charity of his choice. How much did he invest if he donates $460 twice a year?
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