A perpetuity has payments of 1, 2, 3, ...., 98, 99, 100, 99, 98, 97, 96, ...., 3, 2, 1, 2, 3, 4, ...., 99, 100, 99, 98, ....., 3, 2, 1, 2, ...., 99, 100, 99, 98, ...., 3, ,2, 1.... If the payments are made annually, and the annual effective interest rate is 7%, Find the value of the perpetuity at the time of the first payment.

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A perpetuity has a series of payments as 1 2 3 98 99 1... View the full answer