Question: Using rate i per time unit, the present value at time 0 of a perpetuity with payments of P per time period commencing at time

Using rate i per time unit, the present value at time 0 of a perpetuity with payments of P per time period commencing at time 4 is

1. P/i/(1+i)3

2. P/i/(1+i)4

3. P/i(1+i)4

4. P/i

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