Question: What is the difference in present value between a perpetuity that pays $500 per year and an ordinary annuity that pays $500 per year for

What is the difference in present value between a perpetuity that

What is the difference in present value between a perpetuity that pays $500 per year and an ordinary annuity that pays $500 per year for 23 years? Assume a discount rate of 5% and cash flows at the end of the period. (Enter your dollar answer as a number rounded to 2 decimal places. For example: $100.25 would be entered as 100.25)

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