You have finally reached retirement age and have accumulated a total of in your retirement fund.  From a past agreement, you will receive equal monthly payments as long as you live with interest rate 3% per year, compounded monthly for allowing the retirement organization to have and use your money.  What monthly payment should you expect to receive if you plan to live forever?  Draw a timeline of infinite cashflows

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Calculating Retirement Payments (perpetuities).

You have finally reached retirement age and have accumulated a total of in your retirement fund.  From a past agreement, you will receive equal monthly payments as long as you live with interest rate 3% per year, compounded monthly for allowing the retirement organization to have and use your money.  What monthly payment should you expect to receive if you plan to live forever?  Draw a timeline of infinite cashflows

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