Question: What is the interest rate, r when the present value of a perpetuity is $ 7 2 , 2 0 0 and the payments are

What is the interest rate, r when the present value of a perpetuity is $72,200 and the payments are $6,000? The first payment occurs one year from now.
Enter your answer as a percentage. Do not include the percentage sign in your answer.
Enter your response below (rounded to 2 decimal places).
%
 What is the interest rate, r when the present value of

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!