What is the price of a consol that pays 210 annually if the


An investor purchasing a British consol is entitled to receive annual payments from the British government forever.

What is the price of a consol that pays $210 annually if the next payment occurs one year from today? The market interest rate is 4 percent.

(Round your answer to 2 decimal places, e.g., 32.16.)

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Financial Management: What is the price of a consol that pays 210 annually if the
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