Question: PLEASE EXPLAIN THE PROCESS AND ANSWER, THERE ARE SO MANY DIFFERENT ANSWER IN CHEGG Question 19 Answer saved Your friend promises you a perpetuity of

PLEASE EXPLAIN THE PROCESS AND ANSWER, THERE ARE SO MANY DIFFERENT ANSWER IN CHEGG

PLEASE EXPLAIN THE PROCESS AND ANSWER, THERE ARE SO MANY DIFFERENT ANSWER

Question 19 Answer saved Your friend promises you a perpetuity of $1 every year, which starts in year 1. However, your friend is an absent-minded guy, paying you $3 at year 8 but no payment at years 7 and 9. Except for these three years, in other years, the payment is always $1. Which of the following is right about the present value at year zero of your friend's all payments if r = 5%? Points out of 1.00 Select one: P Flag question O a. $21.09 O b. $20.00 O c. $19.91 O d. $19.97 O e. None of the above Clear my choice

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