Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter29: Interest, Rent, And Profit
Section: Chapter Questions
Problem 1WNG
Related questions
Question
If the interest rate is 10 percent, the present value of an annual payment of $100,000 to be received indefinitely is:
a.
$976,463.
b.
infinite.
c.
$1,000,000.
d.
$2,000,000.
e.
$1,246,296.
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