Question: = Homework: HW 6 Annuity and Perpetuity < Question 8, P6-46 (simila... > HW Score: 25%, 3 of 12 points O Points: 0 of

= Homework: HW 6 Annuity and Perpetuity < Question 8, P6-46 (simila...

= Homework: HW 6 Annuity and Perpetuity < Question 8, P6-46 (simila... > HW Score: 25%, 3 of 12 points O Points: 0 of 1 Save (Present value of a growing perpetuity) As a result of winning the Gates Energy Innovation Award, you are awarded a growing perpetuity. The first payment will occur in a year and will be for $25,000. You will continue receiving monetary awards annually with each award increasing by 8 percent over the previous award, and these monetary awards will continue forever. If the appropriate interest rate is 12 percent, what is the present value of this award? The present value of the award is $ (Round to the nearest cent.) Help Me Solve This View an Example Get More Help Clear All Check Answer

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