Mathematics · Perpetuity
How much should be invested now (to the nearest dollar) to receive $24,000 per year in perpetuity if the annual rate of interest is 5%?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$480,000✓
- 2$120,000
- 3$25,200
- 4$1,200
Correct answer
$480,000
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