Given an interest rate of 695 percent per year what is the v

Given an interest rate of 6.95 percent per year, what is the value at Year 9 of a perpetual stream of $3,700 payments that begin at Year 20? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

  Present value

Solution

Given an interest rate of 6.95 percent per year, what is the value at Year 9 of a perpetual stream of $3,700 payments that begin at Year 20? (Enter rounded answ

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