At the same annual effective rate i a perpetuity paying 1 at

At the same annual effective rate i, a perpetuity paying $1 at the end of each 4-month period, with the first payment at the end of 4 months, has a present value of X.

Calculate X.

Answer: 41.6

Below is what I did but I am getting the answer of 40.66. Not sure where I am going wrong.

I think the answer may be wrong because i am getting the same answer. 40.6577

At the same annual effective rate i, a perpetuity paying $1 at the end of each 4-month period, with the first payment at the end of 4 months, has a present valu

At the same annual effective rate i a perpetuity paying 1 at

Solution

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