At the end of the 12th month of each year it pays double
A perpetuity pays $3600 at the end of every month for 11 months of each year. At the end of the 12th month of each year, it pays double that amount. If the effective ANNUAL rate is 9.2%, what is the present value of this perpetual annuity?
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question - first city bank pays 8 percent simple interest on its saving account balances whereas second city band pays
a perpetuity paysnbsp3600 at the end of every month for 11 months of each year at the end of the 12th month of each
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